Exhibit 10.1 -Refer to Exhibit 10.1, Which Shows the Short-Run Aggregate Supply

question 11

Multiple Choice

Exhibit 10.1

-Refer to Exhibit 10.1, which shows the short-run aggregate supply curve of an economy. If the actual price level exceeds the expected price level, then _____

• A) the equilibrium output is likely to be Y₂ in the short run.
• B) the equilibrium output is likely to be Y₁ in the short run.
• C) the equilibrium output is likely to be Y₃ in the short run.
• D) potential output is greater than actual output.
• E) unemployment is above the natural rate.

---

Definitions:

Information

Data that has been processed in such a way as to be meaningful to the person who receives it.

Physical Attractiveness

The extent to which others regard an individual's physical characteristics as beautiful or aesthetically appealing.

Academic Competence

The ability to achieve success in an academic environment, often reflecting one's knowledge, skills, and work habits.

Frequency Of Dating

The rate at which an individual goes on dates, reflecting their level of engagement in the romantic or social dating scene.