Suppose That During the Great Depression Long-Run Aggregate Supply Shifted

question 12

Multiple Choice

Suppose that during the Great Depression long-run aggregate supply shifted left.To be consistent with what happened to the price level and output,what would have had to happen to aggregate demand?

• A)It would have to have shifted left by less than aggregate supply.
• B)It would have to have shifted left by more than aggregate supply.
• C)It would have to have shifted right by less than aggregate supply.
• D)It would have to have shifted right by more than aggregate supply.

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Definitions:

Negative Skew

A distribution that is skewed to the left, indicating that the tail on the left side is longer or fatter than the right side and the mean is typically less than the median.

Distribution

Refers to the way values in a data set are spread or dispersed, indicating the pattern of variations within the data.

Plus Or Minus Signs

Symbols used to indicate the precision of an approximate number, or to show the range of possible values around a given value.

X-axis

The horizontal axis in a graph or chart, commonly used to represent the independent variable's range of values.