​What Type of Current Flows in Only One Direction

question 3

Multiple Choice

​What type of current flows in only one direction?

• A) ​direct
• B) ​alternating

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Definitions:

Short-Run Aggregate Supply

The total supply of goods and services that firms in an economy plan on selling during a short time period, given the current price levels.

Aggregate Output

The total quantity of goods and services produced in an economy over a given period, often considered synonymous with real GDP.

Price Level

The standard price level of the wide variety of goods and services in the economy.

Real Income

The income of an individual or group after taking into consideration the effects of inflation on purchasing power.