The Aggregate Supply Curve Will Shift Downward in Response To

question 88

Multiple Choice

The aggregate supply curve will shift downward in response to:

• A) an increase in the expected rate of inflation.
• B) a decrease in the expected rate of inflation.
• C) an increase in potential GDP.
• D) a decrease in potential GDP.

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Definitions:

Empirical Rule

The rule in statistics where for any normal distribution, practically all of the data is expected to be within three standard deviations from the mean value.

Empirical Rule

A statistical principle that asserts in a normal distribution, almost all data points are contained within three standard deviations from the average.

Tchebysheff's Theorem

Tchebysheff's theorem provides a bound on the probability that a random variable deviates from its mean, regardless of the distribution's shape, for any number of standard deviations.

Stem-And-Leaf Plot

A graphical representation of quantitative data that allows for the shape of the distribution to be easily seen, sorting data into "stems" and "leaves."