A Vertical Line Showing an Economy's Potential Output Is Called

question 47

Multiple Choice

A vertical line showing an economy's potential output is called the ________, while a horizontal line showing the current rate of inflation is called the ________.

• A)long-run aggregate supply; short-run aggregate supply
• B)short-run aggregate supply; long-run aggregate supply
• C)long-run aggregate supply; aggregate demand
• D)short-run aggregate supply; aggregate demand

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Definitions:

Selective Attention

The ability to focus on only one stimulus from among all sensory input.

Retrieve

The action of getting something back or regaining possession.

Selective Attention

The process of focusing on a particular object in the environment for a certain period of time, while ignoring irrelevant information.

Noisy Restaurant

A dining establishment with high levels of background noise, often impacting the dining experience and conversation.