Aggregate Demand and Supply Curves Have Been Widely Used to Analyze

question 183

Multiple Choice

Aggregate demand and supply curves have been widely used to analyze the performance of the macroeconomy. Figure 5-3 shows four diagrams that represent different changes in the macroeconomy. Choose the diagram that best represents the situations described in the following questions. Figure 5-3  

Which graph in Figure 5-3 best represents the economic conditions of the American economy in 2001?

• A) 1
• B) 2
• C) 3
• D) 4

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Definitions:

Tolman

A psychologist known for his work on cognitive maps and latent learning in rats, suggesting that behavior is more goal-oriented than mechanistic.

Skinner

An American psychologist and behaviorist known for his development of the theory of operant conditioning.

Contingency Theory

A theory in organizational behavior that suggests the effectiveness of leadership depends on the situation at hand and how certain factors affect the situation's outcome.

Social Learning

The process of acquiring new behaviors through observation and imitation of others, as proposed by Albert Bandura.