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.

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Definitions:

Modified Block

A format for business letters where the text is left-aligned, except for the date and closing, which are tabbed to the center or right.

Letter Style

A specific format or template for writing letters, often including elements like address placement, greeting, and signature.

Flush Margin

This refers to text that is lined up along the left margin in a document, creating a uniform edge.

Business Letter

A formal document exchanged between companies or between a company and its clients, suppliers, or other parties.