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:

Evolution

The process through which species of organisms undergo changes over time through genetic variation and natural selection.

Cellular Respiration

A set of metabolic processes that take place within cells to convert biochemical energy from nutrients into ATP, and then release waste products.

Photosynthesis

The process by which green plants, algae, and certain bacteria convert light energy, water, and carbon dioxide into oxygen and glucose.

Carbon Dioxide

An invisible, unscented gas generated through the combustion of carbon-based and organic materials, as well as by the respiration process, which is consumed by plants during photosynthesis.