Aggregate Supply/Demand shift factors

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29 Terms

1
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If there is productivity growth, the aggregate supply curve will shift to the ______.

right

2
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If the price of key inputs decrease, the aggregate supply curve will shift to the ______.

right

3
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If there are higher prices for inputs, the aggregate supply curve will shift to the ________.

left

4
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If wages or energy products increase in price, the aggregate supply curve will shift to the ______.

left

5
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If the aggregate supply curve shifts to the right, the level of output will _____.

increase

6
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If the aggregate supply curve shifts to the right, there will be ______ pressure on price level.

downward

7
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If the aggregate supply curve shifts to the right, there will be an _____ in real GDP.

increase

8
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If the aggregate supply curve shifts to the right, the unemployment will _______.

decrease

9
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If the aggregate supply curve shifts to the right, inflation will _______.

decrease

10
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If the aggregate supply curve shifts to the left, ______ quantity will be produced.

lower

11
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If the aggregate supply curve shifts to the left, there will be a _____ price level.

higher

12
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If the aggregate supply curve shifts to the left, the GDP will ______.

decrease

13
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If the aggregate supply curve shifts to the left, the unemployment will _______.

increase

14
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If the aggregate supply curve shifts to the left, inflation will _______.

increase

15
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If aggregate supply shift to the right, the equilibrium price will ____ and the equilibrium output will ______.

decrease, increase

16
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If aggregate supply shift to the left, the equilibrium price will ______ and the equilibrium output will _____.

increase, decrease

17
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If any of the factors of GDP increase, the aggregate demand curve shifts to the ________.

right

18
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If any of the factors of the GDP decrease, the aggregate demand curve shifts to the ______.

left

19
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If consumer/business confidence increases, the aggregate demand curve shifts to the ______.

right

20
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If consumer/business confidence increases, the aggregate demand curve shifts to the ____.

left

21
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If there is a cut in taxes, the aggregate demand curve shift to the _______.

right

22
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If there are higher taxes, the aggregate demand curve shift to the _______.

left

23
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If the aggregate demand curve shifts to the right, the equilibrium price will ______ and the equilibrium output will _____.

increase, increase

24
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If the aggregate demand curve shifts to the right, it moves _____the potential GDP.

toward

25
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If the aggregate demand curve shifts to the right, unemployment _______.

decreases

26
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If the aggregate demand curve shifts to the left, equilibrium price will _____ and the equilibrium output will _____.

decrease, decrease

27
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If the aggregate demand curve shifts to the left, it moves ______ from the potential GDP.

away

28
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If the aggregate demand curve shifts to the left, it is _____ to a recession.

closer

29
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If the aggregate demand curve shifts to the left, the unemployment will _____.

increase