A Study of the U

question 51

Multiple Choice

A study of the U.S.price level and real GDP from 1972 to 2007 reveals a clear upward march toward higher prices and greater output.What explains this?

• A)Both the aggregate demand curve and the aggregate supply curve have shifted to the left year after year.
• B)Both the aggregate demand curve and the aggregate supply curve have shifted to the right year after year.
• C)The aggregate supply curve has shifted to the right, while the aggregate demand curve has shifted to the left.
• D)The aggregate supply curve has shifted to the left, while the aggregate demand curve has shifted to the right.

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Definitions:

Delegation

The act of entrusting another person with responsibility and authority to perform a specific task or function that was originally one's own duty.

Assignment

The act of transferring rights, duties, or responsibilities from one party to another, commonly seen in contracts or agreements.

Delegator

The party in a contract that assigns responsibility or tasks to another party, known as the delegatee.

Delegatee

A person or entity that is delegated authority or tasks by another, typically in a legal or formal context.