Understanding Aggregate Supply & Demand Video

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question 1 of 3

What is aggregate supply?

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1. Aggregate demand refers to which of the following?

2. On the AS/AD model, the vertical line at economic equilibrium represents which of the following?

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About This Quiz & Worksheet

Make use of this quiz and worksheet to understand what you know about aggregate supply and demand. Use your knowledge to answer questions on subjects like what aggregate supply represents and what it refers to.

Quiz & Worksheet Goals

Use these study resources to:

  • Recognize what is represented in the third line of the aggregate supply-aggregate demand model
  • Understand what is represented by long-term supply
  • Name the 20th-century economist who created the aggregate supply-aggregate demand model

Skills Practiced

Use these study skills:

  • Interpreting information - verify that you can review information regarding long-term supply and interpret it correctly
  • Information recall - access the knowledge you've gained regarding what aggregate demand refers to
  • Knowledge application - use your knowledge to answer questions about aggregate supply and demand

Additional Learning

Review this lesson named Understanding Aggregate Supply & Demand, which covers the following:

  • Compare and contrast aggregate supply and aggregate demand
  • Identify the demand curve
  • Understand long-term supply curve
  • Explain short-term supply curve
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