The aggregate demand and aggregate supply graph has a. the price level on the vertical axis....
The aggregate demand and aggregate supply graph has
| a. |
the price level on the vertical axis. The price level can be measured by GDP. |
|
| b. |
the price level on the horizontal axis. The price level can be measured by real GDP. |
|
| c. |
the price level on the horizontal axis. The price level can be measured by the GDP deflator. |
|
| d. |
the price level on the vertical axis. The price level can be measured by the GDP deflator. |
Homework Answers
Option D.
- Just like how both of the aggregate demand and aggregate supply curves have quantity of output produced on the horizontal axis, both of these curves have the price level on the vertical axis.
- This price level can be measured by the GDP deflator which measures price level changes for various final goods and services within an economy in a given year.
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1. In addition to the price level,
what does the aggregate demand and aggregate supply model focus
on?
a. real
GDP
b.
nominal GDP
c.
the real interest rate
d. stock
prices
2. Which statement best characterizes the long-run
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Aggregate Demand/Aggregate Supply model that would illustrate the
current state of the aggregate economy in the United States. The
Aggregate Demand/Aggregate Supply Model is first explained in
Chapter 11of your text. Carefully explain your graph.You should draw your own AD/AS graph which you can then scan
and paste into your post. Your graph needs to be clearly labeled
and explained carefully. Make sure that your graph includes an
aggregate demand (AD)...
In the aggregate demand/aggregate supply (AD/AS) model, the vertical axis is labeled: aggregate price level. consumption plus investment plus government spending. GDP. consumption.
1. In addition to the price level,
what does the aggregate demand and aggregate supply model focus
on?
a. real
GDP
b.
nominal GDP
c.
the real interest rate
d. stock
prices
2. Which statement best characterizes the long-run
aggregate-supply curve?
a. It is
horizontal.
b. It
shows a positive relationship between price level and output.
c.
It demonstrates the importance of money in the economy....
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