In the Graph of the AD-AS Model,what Is Measured on the Vertical

question 184

Multiple Choice

In the graph of the AD-AS model,what is measured on the vertical axis?

• A) the average price level
• B) real GDP
• C) the inflation rate
• D) real GDP growth

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Definitions:

Internal Controls

Processes put in place by management to ensure reliability of financial reporting, effective and efficient operations, and compliance with laws and regulations.

Cash Payments

Outflows of cash to settle obligations or purchase goods and services.

Voucher

A written authorization or proof of transaction that details the terms and conditions of a financial exchange or payment.

Liability

A financial obligation or amount owed by a business or individual to another entity.