Figure 17-3

question 175

Multiple Choice

Figure 17-3. The left-hand graph shows a short-run aggregate-supply (SRAS) curve and two aggregate-demand (AD) curves. On the left-hand diagram, Y represents output and on the right-hand diagram, U represents the unemployment rate.

-Refer to Figure 17-3. What is measured along the vertical axis of the left-hand graph?

• A) the wage rate
• B) the inflation rate
• C) the price level
• D) the change in output from one year to the next

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Definitions:

Attention

Attention is the selective concentration on information or stimuli, excluding other perceivable information.

Nile River

One of the world’s longest rivers, flowing through northeastern Africa, it is a crucial water source for the countries it spans and has been integral to the region's history.

Confident

Feeling or showing certainty about something or self-assurance.

Correct

Conforming to fact or truth; free from error, in alignment with a standard or expectation.