A Study of the U

question 51

Multiple Choice

A study of the U.S.price level and real GDP from 1972 to 2007 reveals a clear upward march toward higher prices and greater output.What explains this?

• A)Both the aggregate demand curve and the aggregate supply curve have shifted to the left year after year.
• B)Both the aggregate demand curve and the aggregate supply curve have shifted to the right year after year.
• C)The aggregate supply curve has shifted to the right, while the aggregate demand curve has shifted to the left.
• D)The aggregate supply curve has shifted to the left, while the aggregate demand curve has shifted to the right.

---

Definitions:

Calcitonin

A hormone produced by the thyroid gland that helps regulate calcium levels in the blood by decreasing the concentration of calcium.

Parathyroid Hormone (PTH)

A hormone secreted by the parathyroid glands that regulates calcium and phosphate levels in the blood.

Nervous System

The network of nerve cells and fibers that transmits nerve impulses between parts of the body, overseeing both voluntary actions and the functioning of internal organs.

Homeostasis

The autonomous mechanism through which life forms uphold equilibrium as they adapt to variations in environmental conditions.