Aggregate Supply and Demand
About the Lecture
The lecture Aggregate Supply and Demand by James DeNicco is from the course Principles of Macroeconomics (EN). It contains the following chapters:
- Introduction: Aggregate Supply and Demand
- Business Cycles
- The Aggregate Demand Curve
- The Long & Short Run Aggregate Supply Curve
- Recovery Through Wages / Shifts in Long Run Aggregate Supply
Included Quiz Questions
In the Aggregate Supply & Demand model the _________ curve is a vertical line with respect to the aggregate price level.
- Long-run Aggregate Supply
- Aggregate Demand
- Long-run Aggregate Demand
- Short-run Aggregate Supply
The Wealth Effect tells us that as prices increase, consumption _________ and aggregate demand _________.
- Decreases; decreases
- Increases; increases
- Increases; decreases
- Decreases; increases
The Interest Rate Effect tells us that as prices increase, the real interest rate _________ , investment _________ and aggregate demand _________.
- Increases; decreases; decreases
- Decreases; increases; increases
- Increases; increases; increases
- Decreases; decreases; decreases
Which is a reason that Short Run Aggregate Supply is upward sloping?
- Sticky Wages
- Wealth Effect
- Interest Rate Effect
- Exchange Rate Effect
The sticky wages theory says that _________ wages cannot adjust immediately as prices rise, which drives _________ wages _________.
- Nominal; real; down
- Nominal; nominal; up
- Real; nominal; down
- Real; real; down
Author of lecture Aggregate Supply and Demand
James DeNicco
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