Exhibit 10-3 Aggregate Supply and Demand Curves

question 75

Multiple Choice

Exhibit 10-3 Aggregate supply and demand curves

In Exhibit 10-3, the change in equilibrium from E₁ to E₂ represents:

• A) deflation.
• B) demand-pull inflation.
• C) price-push inflation.
• D) cost-push inflation.

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Definitions:

Acculturation

The process of adaptation in which immigrants and native groups identify with a new, dominant culture by learning about that culture and making behavioral and attitudinal changes.

Self-esteem

The personal judgment of worthiness that is expressed in the attitudes the individual holds towards themselves.

Self-actualization

The realization or fulfillment of one's talents and potentialities, especially considered as a drive or need present in everyone.

Humanistic Theory

Humanistic Theory emphasizes individual potential and stresses the importance of growth and self-actualization.