Use the following graph to answer the following questions.This graph depicts an economy where aggregate demand has decreased,with no change in either short-run aggregate supply (SRAS) or long-run aggregate supply (LRAS) .
-The graph accurately summarizes what happened during the Great Depression,because during that time,the price level ________ and real gross domestic product (GDP) ________.
Definitions:
Variables
Elements or factors that can be changed and measured within a scientific experiment.
Negative Correlation
A statistical relationship between two variables such that as one variable increases, the other decreases.
Psychological Disorder
Deviant, distressful, and dysfunctional patterns of thoughts, feelings, and actions.
Degree of Wealth
A measure of the amount of financial assets or resources that an individual, family, or organization possesses.
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