When We Draw the Aggregate Demand Curve, _______ Should Be

question 60

Multiple Choice

When we draw the aggregate demand curve, _______ should be on the x- axis and _______ should be on the y- axis.

• A) real GDP; inflation
• B) real GDP; the price level
• C) quantity; price
• D) price; quantity

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Definitions:

Supply and Demand

The basic economic principle where the quantity of goods supplied equals the quantity of goods demanded at a specific price point.

Computer Production

The process of manufacturing computers, encompassing assembly of components to the creation of software.

Wage Inequality

The disparity in earnings between different workers or groups of workers.

Unskilled Workers

Employees who perform jobs that require minimal training or skills.