Aggregate Demand and Supply Analysis (AQA A-Level Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is the equation for aggregate demand?
What is the equation for aggregate demand?
Why does the AD curve slope downwards?
Why does the AD curve slope downwards?
Lower prices make exports more competitive
Using the note's data, what was net export demand in 2022 (exports £300bn, imports £200bn)?
Using the note's data, what was net export demand in 2022 (exports £300bn, imports £200bn)?
£100bn surplus
What causes a shift of the AD curve rather than a movement along it?
What causes a shift of the AD curve rather than a movement along it?
A change in investment spending
Why does the short-run AS curve slope upwards?
Why does the short-run AS curve slope upwards?
Firms need higher prices to cover rising costs
Which factor would shift the AS curve rightward?
Which factor would shift the AS curve rightward?
An increase in productivity
Why is the LRAS curve depicted as vertical?
Why is the LRAS curve depicted as vertical?
Long-run supply isn't influenced by price level
What happens if AD increases when the economy is already on the LRAS curve?
What happens if AD increases when the economy is already on the LRAS curve?
Only the price level rises (inflation)
Where does macroeconomic equilibrium occur in the AD/AS model?
Where does macroeconomic equilibrium occur in the AD/AS model?
Where the AD and AS curves intersect
What is an economic shock?
What is an economic shock?
A sudden, unexpected event hitting the economy