Quiz 1 : Economic Fluctuation, AD -AS
1. What is the time horizon in macro economic?
Answer:
An economic evaluation's time horizon is the period over which health outcomes and
costs are measured. There are 2 types of time horizons in macroeconomics (long-run and
short-run).
2. What is Aggregate Demand?
Answer:
In macroeconomics, aggregate demand refers to the overall demand for commodities
produced domestically, which includes consumer items, services, and capital goods. The
aggregate demand curve depicts the relationship between price and output quantity
desired.
3. What is Aggregate Supply?
Answer:
The total of all commodities and services generated by an economy during a certain time
period is known as aggregate supply. Gross domestic product is used to calculate
aggregate supply (GDP). There are 2 types of aggregate supply (long-run and short-run).
1. What is the time horizon in macro economic?
Answer:
An economic evaluation's time horizon is the period over which health outcomes and
costs are measured. There are 2 types of time horizons in macroeconomics (long-run and
short-run).
2. What is Aggregate Demand?
Answer:
In macroeconomics, aggregate demand refers to the overall demand for commodities
produced domestically, which includes consumer items, services, and capital goods. The
aggregate demand curve depicts the relationship between price and output quantity
desired.
3. What is Aggregate Supply?
Answer:
The total of all commodities and services generated by an economy during a certain time
period is known as aggregate supply. Gross domestic product is used to calculate
aggregate supply (GDP). There are 2 types of aggregate supply (long-run and short-run).
