Unit 3: Macroeconomics
Topic 3.2: Variations in Economic Activity — Aggregate Demand and Aggregate Supply Questions
Practice 20 exam-style questions for IB Economics Topic 3.2. Review the question stems below, then unlock the full Question Bank to access markschemes, model answers, and AI grading.
34 marks
Explain the components of aggregate demand.
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Explain the components of aggregate demand.
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The short-run aggregate supply (SRAS) curve is upward sloping because:
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The aggregate demand curve slopes downward because:
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Using an AD-AS diagram, explain how a positive demand-side shock affects the economy in the short run.
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Explain two factors that could cause the SRAS curve to shift to the left.
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Which of the following would cause a rightward shift of the AD curve?
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Explain two factors that could cause the AD curve to shift to the right.
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A positive demand-side shock, such as a large increase in consumer spending, would most likely result in:
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Explain the difference between an inflationary gap and a deflationary (recessionary) gap.
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Which of the following would shift the SRAS curve to the left?
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Explain the difference between an inflationary gap and a deflationary (recessionary) gap.
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The long-run aggregate supply (LRAS) curve is vertical because:
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A rightward shift of the LRAS curve would result from:
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Explain how a negative supply-side shock can cause stagflation.
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