Use the Following Graph to Answer the Following Questions

question 135

Multiple Choice

Use the following graph to answer the following questions.The graph depicts an economy where aggregate demand and long-run aggregate supply (LRAS) have decreased,with no change in short-run aggregate supply (SRAS) .

-The graph accurately summarizes what happened during the Great Recession,because during that time,the price level ________ and real gross domestic product (GDP) ________.

• A) decreased; decreased
• B) increased; increased
• C) remained largely unchanged; decreased
• D) decreased; remained unchanged
• E) remained unchanged; increased

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Definitions:

Marketing Mix

The set of actions, or tactics, that a company uses to promote its brand or product in the market, often described as the four Ps: Product, Price, Place, and Promotion.

Forecasting Function

A method or model used for predicting future data points or trends based on historical data.

Revenue Management Systems

Revenue management systems are sophisticated platforms that allow businesses to strategically control pricing and inventory to maximize revenue.

Supply Chain Profitability

Measures the overall financial gain achieved through the management and operation of a supply chain, from procurement of raw materials to delivery of final products.