Figure 35-4.The left-hand graph shows a short-run aggregate-supply (SRAS) curve and two aggregate-demand (AD) curves.On the left-hand diagram,the price level is measured on the vertical axis;on the right-hand diagram,the inflation rate is measured on the vertical axis. 
-Refer to Figure 35-4.Assume the figure depicts possible outcomes for the year 2018.In 2018,the economy is at point A on the left-hand graph,which corresponds to point A on the right-hand graph.The price level in the year 2017 was
Definitions:
Confidence Interval
A portfolio of values, extracted from sampling efforts, believed to encapsulate the undiscovered value of a population attribute.
Normal Distribution
A balanced probability distribution around the mean, demonstrating that occurrences are more frequent near the mean than away from it.
Margin of Error
An indicator of the precision of an estimate in statistics, showing the range within which the true value is expected to lie with a certain level of confidence.
Confidence Interval
A range of values that is used to estimate the true value of a population parameter with a certain level of confidence.
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