Suppose That the Short-Run Aggregate Supply Curve Is: π= 2

question 40

Multiple Choice

Suppose that the short-run aggregate supply curve is: π= 2 + 1.5 (Y-10) ,where π is inflation and Y is output;and the aggregate demand curve is Y= 11 - 0.5π. The equilibrium output is ________ and the equilibrium inflation rate is ________%.

• A)10;2
• B)17.5;2
• C)2;10
• D)10;7.5

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Definitions:

Ethnic Diversity

refers to the inclusion and representation of multiple ethnic groups and cultures within a society or organization.

British North America

The territories under British control in North America before achieving independence, including the original thirteen colonies.

Diversity Result

The outcome or impact of incorporating a wide range of different backgrounds, perspectives, and experiences within a community, organization, or system, often leading to enhanced innovation and problem-solving capabilities.

Stono Rebellion

The Stono Rebellion was a slave uprising that occurred in South Carolina in 1739, marking one of the earliest and most significant slave revolts in the American colonies.