Figure 35-3.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 35-3.Assume the figure charts possible outcomes for the year 2018.In 2018,the economy is at point B on the left-hand graph,which corresponds to point B on the right-hand graph.Also,point A on the left-hand graph corresponds to A on the right-hand graph.The price level in the year 2018 is
Definitions:
Higher Price
A situation where the cost of a good or service increases, often due to factors like inflation, increased demand, or higher production costs.
Supply Curve
A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to offer for sale.
Supply Curve
A visual diagram that illustrates the connection between the cost of a product and the amount of the product that sellers are prepared to make available for purchase.
Demand Curve
A graph illustrating how much of a good consumers will buy at different prices, showing the relationship between price and quantity demanded.
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