Aggregate Supply and Demand in Macroeconomics Quiz
Test your knowledge with questions on aggregate demand, supply curves, inflation, and more in this macroeconomics quiz.
#1
Which of the following is a component of aggregate demand?
Government spending
Foreign exchange reserves
National debt
Income taxes
#2
What is the relationship between the price level and aggregate demand?
Inverse relationship
Direct relationship
No relationship
Cyclical relationship
#3
Which of the following is a component of aggregate supply?
Interest rates
Consumer spending
Technology
Government subsidies
#4
What does the short-run aggregate supply curve show?
The relationship between real GDP and the price level in the short run, holding all other factors constant.
The relationship between real GDP and the price level in the long run, holding all other factors constant.
The relationship between unemployment and inflation in the short run.
The relationship between consumer spending and investment in the economy.
#5
In the long run, the aggregate supply curve is:
Vertical
Horizontal
Positively sloped
Negatively sloped
#6
Which of the following is a determinant of aggregate supply?
Government spending
Technological advancements
Consumer preferences
Foreign exchange rates
#7
Which of the following is a shift factor of aggregate demand?
Changes in the price level
Changes in consumer expectations
Changes in wage rates
Changes in technology
#8
What is the slope of the aggregate demand curve?
Positive
Negative
Vertical
Horizontal
#9
What happens to equilibrium output and price level if aggregate demand increases while aggregate supply remains constant?
Output increases, and the price level increases.
Output decreases, and the price level decreases.
Output decreases, and the price level increases.
Output increases, and the price level decreases.
#10
What is the primary determinant of long-run economic growth?
Aggregate demand
Aggregate supply
Government spending
Technological progress
#11
Which of the following factors would cause the short-run aggregate supply curve to shift to the left?
An increase in productivity
An increase in the labor force
An increase in the price level
An increase in business taxes
#12
What is the relationship between inflation and the long-run aggregate supply curve?
Positive relationship
Negative relationship
No relationship
Inverse relationship
#13
What is the main cause of stagflation?
A decrease in aggregate demand
An increase in aggregate demand
A decrease in aggregate supply
An increase in aggregate supply
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