What Is Measured on the Vertical Axis of the Aggregate

question 105

Multiple Choice

What is measured on the vertical axis of the aggregate demand graph?

• A) nominal income
• B) real GDP per year
• C) the price level
• D) unemployment

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Definitions:

Adult Actions

Behaviors or decisions made by adults, often with a focus on responsibility, maturity, or the consequences affecting themselves or others.

Time-consuming

Activities or processes that require a considerable or excessive amount of time to complete.

Irreversibility

A cognitive development concept where a child is unable to understand that certain processes can be reversed to return to their original state.

Deductive Reasoning

A logical process in which a conclusion follows necessarily from the premises presented, such that if the premises are true, the conclusion cannot be false.