Figure 10-3 ​

question 96

Multiple Choice

Figure 10-3
​
-In Figure 10-3, we would expect the aggregate supply curve in graph (b) to eventually

• A)shift to the right, eliminating the recessionary gap.
• B)shift to the left, eliminating the inflationary gap.
• C)become steeper in the upper portion, eliminating the inflationary gap.
• D)become flatter in the upper portion, eliminating the recessionary gap.

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Definitions:

Premises

Premises refer to statements or ideas assumed to be true and used as the basis for constructing an argument or reasoning.

Conclusions

The end or finish of an event, process, or text, often summarizing the main points or findings.

Convergent Thinking

A cognitive process in which a person has the goal of finding a single, correct answer to a problem, as opposed to divergent thinking which involves generating multiple solutions.

Routine Problem Solving

A type of problem-solving that relies on past experiences and practiced strategies to efficiently address familiar issues.