Figure 22-3. The left-hand graph shows a short-run aggregate-supply (SRAS) curve and two aggregate-demand (AD) curves. On the left-hand diagram, Y represents output and on the right-hand diagram, U represents the unemployment rate. 
-Refer to Figure 22-3. What is measured along the vertical axis of the right-hand graph?
Definitions:
Gerald Ford
The 38th President of the United States, known for his controversial pardon of Richard Nixon and efforts to heal the country post-Watergate.
American Economy
The economic system of the United States, characterized by a mixture of private and public enterprises, and noted for its innovation, diversity, and significant GDP.
Nixon Administration
The executive branch of the U.S. government led by President Richard Nixon from 1969 to 1974, marked by significant events such as the Vietnam War and the Watergate scandal.
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