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Describe the short-run impact that economic fluctuations and growth (or lack thereof) have had on aggregate supply, aggregate demand, output, unemployment, and inflation.



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Mahe Alam
Mahe AlamLv10
28 Sep 2019

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Related questions

The basic aggregate demand and aggregate supply curve model helps explain:
A) short-run fluctuations in real GDP and the price level.
B) long-term growth.
C) price fluctuations in an individual market.
D) output fluctuations in an individual market.

Most economists use the aggregate demand and aggregate supply model primarily to analyze

a. short-run fluctuations in the economy.

b. the effects of macroeconomic policy on the prices of individual goods.

c. the long-run effects of international trade policies.

d. productivity and economic growth. 

Long-run macroeconomic equilibrium occurs when:
 
a. aggregate demand equals short-run aggregate supply.
 
b. aggregate demand equals short-run aggregate supply and they intersect at a point on the long-run supply curve.
 
c. unemployment equals zero.
 
d. output is above potential GDP.

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