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Aggregate demand: Quiz


Question 1: obscures the distribution of income between ________ with different propensities to save, consume and invest, and
Social classWorking classSocial stratificationUpper class

Question 2: This perspective originates in, and is intimately tied to, the debt-deflation theory of ________, and the notion of a credit bubble (credit being the flip side of debt), and has been elaborated in the Post-Keynesian school.
John Maynard KeynesKeynesian economicsIrving FisherAustrian School

Question 3: This causes a sudden and sustained drop in Aggregate Demand, and this shock is argued to be the proximate cause of a class of economic crises, properly ________.
EconomicsBusiness cycleRecessionFinancial crisis

Question 4: The main theoretical reason for this is that if the nominal money supply (Ms) is constant, a falling P implies that the real money supply (Ms/P)rises, encouraging lower ________ and higher spending.
DebtInterest rateCentral bankCredit (finance)

Question 5: [2]This is the demand for the ________ of a country when inventory levels are static.
JEL classification codesEconomyGross domestic productEconomics

Question 6: gross ________ investment and consumption expenditures (G).

Question 7: These macrovariables are constructed from varying types of microvariables from the price of each, so these variables are denominated in (real or nominal) ________ terms.
CyprusCurrencyCoinISO 4217

Question 8: gross private domestic investment (I), such as spending by business firms on ________ construction.
ManchesterFactoryIndustrial RevolutionBirmingham

Question 9: A ________ theory of aggregate demand emphasizes the role of debt, which it considers a fundamental component of Aggregate Demand.
New Keynesian economicsKeynesian economicsJohn Maynard KeynesPost-Keynesian economics

Question 10: Conversely, if the debt level is 300% of GDP and 1% of loans are not repaid, this impacts GDP by 1% of 300% = 3% of GDP, which is significant: a change of this magnitude will generally cause a ________.
InflationKeynesian economicsRecessionBusiness cycle


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