Aggregate Supply and Aggregate Demand (AS-AD) Model

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

The equilibrium point of the SRAS and AD is in what direction compared to the LRAS during an expansionary gap?

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1. Which best describes the shape of the LRAS curve?

2. The equilibrium point of the SRAS and AD are what direction from the LRAS curve during a contractionary gap?

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About This Quiz & Worksheet

Economic models can be confusing, but this quiz and worksheet combo will help you understand the aggregate supply/aggregate demand model. You'll be assessed on your knowledge of definitions and key concepts, helping you ensure complete understanding of the lesson.

Quiz & Worksheet Goals

In these assessments, you'll be tested on:

  • The placement of the equilibrium point of the SRAS and AD in relation to the LRAS during an expansionary gap and a contractionary gap
  • The shape of the LRAS curve and why it's shaped that way
  • The Y axis of the AS/AD curve

Skills Practiced

This quiz and worksheet allow students to test the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related AS/AD model lesson
  • Distinguishing differences - compare and contrast topics from the lesson, such as a short-run aggregate supply curve and a long-run aggregate supply curve
  • Information recall - access the knowledge you've gained regarding the AS/AD model

Additional Learning

To learn more about the AS/AD model, review the accompanying lesson. This lesson covers the following objectives:

  • Defining aggregate supply/aggregate demand (AS/AD) model
  • Explaining how the AS/AD model works
  • Analyzing graphs of the AS/AD model
  • Understanding the stages of the AS/AD model
  • Identifying and explaining the reasons for each stage of the AS/AD model
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