The Most Accurate Capsule Summary of the Great Depression in Terms

question 150

Multiple Choice

The most accurate capsule summary of the Great Depression in terms of the AD/SAS/LAS model is that

• A)we slid down an AD curve from 1929 to 1933,then down 1933's SAS curve for the rest of the decade.
• B)we slid down an AD curve from 1929 to 1933,then back up the same curve for the rest of the decade.
• C)we went up an AD curve from 1929 to 1933,then came back down it for the rest of the decade.
• D)AD and SAS shifts in unison took us straight to the left from 1929 to 1933,then back straight to the right for the rest of the decade.

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Definitions:

Units

The individual articles, products, or services counted to measure and record inventory, production, or sales.

Net Operating Income

A financial metric that calculates a company's income after all operating expenses, excluding taxes and interest, have been deducted from total revenues.

Flexible Budget

A budget that adjusts or varies with changes in volume or activity levels.

Units

In business, units refer to the individual items or quantities of a product or service measured for sale, production, or inventory.