To Illustrate Inflation Inertia in an Aggregate Demand-Aggregate Supply Model

question 33

Multiple Choice

To illustrate inflation inertia in an aggregate demand-aggregate supply model, the short-run aggregate supply curve shifts upward because of increases in ______, and the aggregate demand curve shifts upward because of increases in ______.

• A) the expected price level; the money supply
• B) the money supply; the expected price level
• C) output; the price level
• D) the price level; output

Understand the treatment options for hypothyroidism.

Recognize the treatment for Graves' ophthalmopathy.

Identify symptoms of hyperparathyroidism.

Understand dietary supplements advised for hypoparathyroidism.

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Definitions:

Externality

A consequence of an economic activity that is experienced by unrelated third parties; it can be either positive or negative.

Efficient Allocation

An optimal distribution of resources in an economy where it is not possible to make someone better off without making someone else worse off.

Resources

Assets, materials, and inputs needed to produce goods and services in an economy.

Standard of Living

A measure indicating the degree of wealth, comfort, material goods, and necessities available to a certain socioeconomic class in a certain geographic area.