Use the following graph to answer the following questions.The graph depicts an economy where aggregate demand and long-run aggregate supply (LRAS) have decreased,with no change in short-run aggregate supply (SRAS) .
-The graph accurately summarizes what happened during the Great Recession,because during that time,the price level ________ and real gross domestic product (GDP) ________.
Definitions:
Internal Characteristics
Qualities or features that are inherent or intrinsic to something or someone.
External Factors
Elements outside an individual that can influence their behavior, decisions, health, or performance, including social, environmental, and economic factors.
Weiner's Attribution Theory
A framework developed by Bernard Weiner that explains how individuals attribute outcomes to internal or external factors, affecting their motivation and emotions.
Kelley's Attribution Theory
A theory that explains how individuals deduce the causes of other people's behavior by attributing it to internal dispositions or external situations.
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