Refer to the Figure Above

question 69

Multiple Choice

Refer to the figure above. A shift from AD₂ shifts to AD₁ would be consistent with what economic event in U.S. history?

• A) World War II in the 1940s
• B) Cost-push inflation in the mid-1970s
• C) Demand-pull inflation in the late 1960s
• D) Great Recession of 2007-2009

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Definitions:

Concrete Operational

A stage in Piaget's theory of cognitive development, occurring from approximately age 7 to 11, where children gain the abilities for logical thought about concrete events, understand the law of conservation, and can classify and seriate.

Conservation

The protection, preservation, management, or restoration of natural environments and the ecological communities that inhabit them.

Abstractly

Related to thinking about concepts and ideas that are not physically present.

Theory of Mind

The cognitive ability to attribute mental states—beliefs, intents, desires, emotions—to oneself and others and to understand that others have beliefs and perspectives different from one's own.