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Short Run Aggregate Supply Elasticity Quiz

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Short Run Aggregate Supply Elasticity Quiz

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Questions and Answers

What is the main cause of a shift in Short-Run Aggregate Supply (SRAS)?

Changes in tax rates

Changes in exchange rates

Subsidies

Changes in the cost of production (correct)

How do increases in the cost of raw materials and energy impact the Short-Run Aggregate Supply (SRAS) curve?

Causes no change in SRAS

Shifts SRAS to the left (correct)

Has no impact on SRAS

Shifts SRAS to the right

What effect does a weaker pound have on the Short-Run Aggregate Supply (SRAS) curve?

Shifts SRAS to the right

Increases SRAS

Decreases SRAS (correct)

Has no effect on SRAS

How do changes in tax rates influence the Short-Run Aggregate Supply (SRAS) curve?

Shifts SRAS to the left Signup and view all the answers

Which factor causes a fall in Short-Run Aggregate Supply (SRAS) and shifts it to the left?

Increases in the cost of raw materials and energy Signup and view all the answers

What impact do subsidies have on the Short-Run Aggregate Supply (SRAS) curve?

Shifts SRAS to the right Signup and view all the answers

How does a stronger pound influence Short-Run Aggregate Supply (SRAS)?

Increases SRAS Signup and view all the answers

Which factor directly causes a shift in the Short-Run Aggregate Supply (SRAS) curve to the right?

Subsidies Signup and view all the answers

During cost-push inflation, what happens to the Short-Run Aggregate Supply (SRAS) curve?

It shifts to the left Signup and view all the answers

How do changes in oil prices affect Short-Run Aggregate Supply (SRAS)?

Decrease SRAS Signup and view all the answers