Consider the AD/AS Macro Model

question 133

Multiple Choice

Consider the AD/AS macro model.The study of short-run cyclical fluctuations usually assumes,for simplicity,that there are no changes in

• A)the AS curve.
• B)potential GDP.
• C)either the AS curve or potential GDP.
• D)either the AD or AS curves.
• E)the intersection of the AD and AS curves.

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Definitions:

Scatter Diagram

A graphical representation of two variables' values to observe any correlations, with individual data points plotted on a two-dimensional plane.

Linear Model

A type of regression model that assumes a linear relationship between the independent and dependent variables.

Theatre Revenues

The amount of money generated from ticket sales, concessions, and other sources by a theatre.

Selling Price

The amount for which something is sold, determined by the seller.