9. Topic 9(COLON) Aggregate Demand, Aggregate Supply and Macroeconomic Equilibrium
Lesson 9.3: Macroeconomic Equilibrium — Quiz
Test your understanding of lesson 9.3: macroeconomic equilibrium with 5 practice questions.
Practice Questions
Question 1
What is the point at which aggregate demand (AD) equals aggregate supply (AS) called?
Question 2
In the short run, if aggregate demand increases, what is likely to happen to the price level and output?
Question 3
An inflationary gap occurs when:
Question 4
What happens to the economy when there is a negative supply shock, such as an unexpected increase in oil prices?
Question 5
The adjustment from a short-run equilibrium to a long-run equilibrium occurs when: