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Chapter 33 AD and AS

Quiz by Chen, Clara

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8 questions
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  • Q1

    Other things the same, as the price level rises, the real value of the home currency

    rises, and interest rates fall

    falls, and interest rates fall.

    falls, and interest rates rise

    rises, and interest rates rise

    30s
  • Q2

    The model of aggregate demand and aggregate supply explains the relationship between

    real GDP and the price level

    wages and employment

    unemployment and output

    the price and quantity of a particular good

    120s
  • Q3

    When your currency depreciates, US

    exports increase, while imports decrease

    exports and imports decrease

    exports decrease, while imports increase

    exports and imports increase

    30s
  • Q4

    Suppose a stock market boom makes people feel wealthier. The increase in wealth would cause people to desire

    decreased consumption, which shifts the aggregate demand curve to the left.

    increased consumption, which shifts the aggregate demand curve to the left.

    increased consumption, which shifts the aggregate demand curve to the right.

    decreased consumption, which shifts the aggregate demand curve to the right.

    30s
  • Q5

    The initial impact of an increase in an investment tax credit is to shift

    aggregate demand to the right

    aggregate supply to the right

    aggregate supply to the left

    aggregate demand to the left

    30s
  • Q6

    When taxes increase, consumption

    None of the above is correct

    decreases as shown by a movement to the left along a given aggregate demand curve.

    decreases as shown by shifting aggregate demandto the left

    increases as shown by shifting aggregate supply the left

    30s
  • Q7

    The long-run aggregate supply curve would shift to the right if immigration from abroad

    decreased or the government made a substantial increase in the minimum wage

    increased or the government made a substantial increase in the minimum wage

    increased or the government abolished theminimum wage

    decreased or the government abolished the minimum wage.

    30s
  • Q8

    Other things the same, when the price level falls, interest rates

    fall, so firms decrease investment

    rise, so firms increase investment

    fall, so firms increase investment

    rise, so firms decrease investment

    120s

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