Diagrams Flashcards
(10 cards)
1
Q
What would shift the demand curve to the left?
A
- decrease in consumer income
- decrease in price of a substitute good
- decrease in population
2
Q
What would shift the demand curve to the right?
A
- increase in consumer income
- increase in price of a substitute good
- increase in population
3
Q
What would shift the supply curve to the left?
A
- increase cost of production
- increase in natural disasters
- increase in taxes
4
Q
What would shift the supply curve to the right?
A
- decrease cost of production
- decrease in natural disasters
- decrease in taxes
5
Q
What would shift the aggregate demand curve to the left?
A
- lower consumer and business confidence
- higher interest rates and taxes
- stronger exchange rate
6
Q
What would shift the aggregate demand curve to the right?
A
- higher consumer and business confidence
- lower interest rates and taxes
- weaker exchange rate
7
Q
What would shift the aggregate supply curve to the left?
A
- increase in wages
- increase in prices for raw materials
- increase in supply shocks
- increase taxes
8
Q
What would shift the aggregate supply curve to the right?
A
- decrease in wages
- decrease in prices for raw materials
- decrease in supply shocks
- decrease taxes
9
Q
What would shift the production possibility frontier inward?
A
- resource depletion
- natural disasters
- decline in the workforce
10
Q
What would shift the production possibility frontier outward?
A
- technological advancements
- increased resource availability
- improved infrastructure
