Refer to the Diagram Given Below

question 120

Multiple Choice

Refer to the diagram given below. If aggregate supply shifts from AS₁ to AS₃, then the real domestic output will:

• A)increase and the price level will increase.
• B)increase and the price level will decrease.
• C)decrease and the price level will increase.
• D)decrease and the price level will decrease.

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Definitions:

Sample Mean

The average value of a set of observations or data points, calculated by summing all the observations and dividing by the number of observations.

Net Weight

The weight of the goods alone without any packaging.

Standard Error

The standard deviation of the sample distribution of a statistic, commonly used to measure the precision of the sample mean's estimate of the population mean.

Heights

The measurement of someone or something from base to top or from the ground to its tallest point.