Consider the Basic AD/AS Diagram

question 57

Multiple Choice

Consider the basic AD/AS diagram. The vertical line at Y* shows the relationship between the price level and the amount of output have adjusted to output gaps.

• A)demanded by households after all factor prices
• B)demanded by households before all factor prices
• C)supplied by firms after all output prices
• D)supplied by firms after all factor prices
• E)supplied by firms before all factor prices

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