AP Econ Unit 3 Aggregate Supply and the Phillips Curve

QuizÂ by Mark Stegall

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12 questions
• Q1
Along the Aggregate supply curve, a rise in the price level decreased the quanityt of real GDP supplied
false
true
True or False
30s
• Q2
A rise in the price level decreases potential GDP on the aggregate supply curve
false
true
True or False
30s
• Q3
Anything that changes potential GDP shifts the aggregate supply curve
true
false
True or False
30s
• Q4
An increase in potential GDP shifts the aggregate supply curve rightward
true
false
True or False
30s
• Q5
Moving along the potential GDP line, the money wage rate changes by the smae percentage as the change in the price level so that the real wage rate
decreases
stays at the full-employment equilibrium level
might either increase or decrease
increases
30s
• Q6
When the price level rises there is a ______ the aggregate demand curve
movement up along
rotation of
rightward shift of
movement down along
30s
• Q7
In Figure 29.6, the equilibrium price level is ________ and the equilibrium real GDP is ________ trillion
90; \$18
90: \$16
100; \$17
110; \$16
30s
• Q8
Figure 29.6 shows
a below full-employment equilbirium with an inflationary gap
a full-employment equilibrium .
an above full-employment equilibrium with a recessionary gap
an above full-employment equilibrium with an inflationary gap
30s
• Q9
the short-run Phillips curve shows the tradeoff between the natural unemployment rate and the expected inflation rate
false
true
True or False
30s
• Q10
Moving along a short-run Phillips curve, the cost of a lower unemployment rate is a higher inflation rate
true
false
True or False
30s
• Q11
The short-run Phillips curve shows the relationship between the
inflation rate and the unemployment rate
inflation rate and the interest rate
price level and real GDP
inflation rate and real GDP
30s
• Q12
the short-run Phillips cure is
downward sloping
U-shaped
horizontal at the expected inflation rate
vertical at the natural unemployment rate
30s

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