Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
Give this quiz to my class
Q 1/12
Score 0
In response to a negative supply shock, the government decreases taxes. The MOST likely result of the government's tax decrease is a(n) _____ in unemployment and a(n) _____ in the aggregate price level.
30
increase; decrease
decrease; increase
increase; increase
decrease; decrease
Q 2/12
Score 0
A positive demand shock will result from
60
an increase in the potential GDP.
d. consumers and firms becoming more pessimistic.
a sudden increase in nominal wages.
a move by the Federal Reserve to lower the interest rate.
12 questions
Q.
In response to a negative supply shock, the government decreases taxes. The MOST likely result of the government's tax decrease is a(n) _____ in unemployment and a(n) _____ in the aggregate price level.
1
30 sec
Q.
A positive demand shock will result from
2
60 sec
Q.
A recessionary gap will be eliminated because there is _____ pressure on wages, shifting the _____.
3
60 sec
Q.
When the economy is producing output above the potential, it has:
4
60 sec
Q.
The intersection of an economy's aggregate demand and long-run aggregate supply curves:
5
60 sec
Q.
Stagflation may result from a(n):
6
60 sec
Q.
An increase in the price of imported oil leads to a _____ shock.
7
60 sec
Q.
A positive demand shock leads to:
8
60 sec
Q.
When the economy is on the short-run aggregate supply curve and to the left of the long-run aggregate supply curve, actual aggregate output will eventually equal potential output as _____ fall(s) and the _____ aggregate _____ curve shifts to the _____.
9
60 sec
Q.
An aggregate output level lower than potential output means there will be:
