-The Figure Above Shows the Aggregate Demand, Short-Run Aggregate Supply

question 147

Multiple Choice

-The figure above shows the aggregate demand, short-run aggregate supply, and long-run aggregate supply curves for the U.S. economy. The economy is currently at point A. A demand-pull rise in the price level will initially move the economy to point ________ and to point ________.

• A) E when aggregate demand increases; D when the wage rate rises
• B) B when aggregate demand decreases; C when the wage rate rises
• C) E when aggregate demand increases; A when the wage rate rises
• D) C when the wage rate rises; D when aggregate demand increases

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Definitions:

Neuroticism

A characteristic of personality defined by feelings of anxiety, sadness, concern, envy, frustration, jealousy, and isolation.

Emotionality

Refers to the intensity and range of emotional responses observed in an individual.

Dark Triad

A psychological concept that encompasses three negative personality traits: narcissism, Machiavellianism, and psychopathy.

Narcissism

A pattern of self-centered, arrogant thinking and behavior, a lack of empathy and consideration for other people, and an excessive need for admiration.