Pearson Edexcel International A Level · Economics (YEC11)

Aggregate supply (AS): Practice Questions

5 multiple-choice questions marked as you go, and 4 written questions with worked solutions. All on Aggregate supply (AS).

9 questions21 marksFree, no account

Question 1

1 mark

Which of the following would cause a rightward shift in the Short-Run Aggregate Supply (SRAS) curve?

Question 2

1 mark

In a macroeconomic diagram, which of the following would cause a leftward shift of the Short-Run Aggregate Supply (SRAS) curve?

Question 3

1 mark

In the context of the Keynesian LRAS curve, what is the most likely implication of an economy operating in the vertical section of the curve?

Question 4

1 mark

According to the classical view of the Long-Run Aggregate Supply (LRAS) curve, what is the primary determinant of the economy's level of real output in the long run?

Question 5

1 mark

Which of the following factors is most likely to cause a downward shift (increase) in the Short-Run Aggregate Supply (SRAS) curve?

Question 6

2 marks

State one interventionist supply-side policy that aims to increase the Long-run Aggregate Supply (LRAS) of an economy by improving the quality of the labour force.

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Question 7

4 marks

The diagram shows a Keynesian Long-run Aggregate Supply (LRAS) curve. Explain why this curve is perfectly elastic in the region where there is high unemployment and spare capacity.

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Question 8

5 marks

In a classical LRAS model, what is the effect of an increase in Aggregate Demand on real output and the price level in the long run?

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Question 9

5 marks

A government implements a policy that significantly increases the costs of raw materials and energy for all domestic manufacturers.

(a) Explain the likely impact of this change on the Short-run Aggregate Supply (SRAS) curve. (2)
(b) Differentiate between the Classical and Keynesian views regarding the shape of the Long-run Aggregate Supply (LRAS) curve. (3)

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