The AD-AS Diagram Used in This Chapter

Multiple Choice

The AD-AS diagram used in this chapter

A) is unrelated to the demand and supply diagram used in microeconomics
B) uses the average price level of all goods and services we buy as "price"
C) uses an AS-curve that is relatively more price elastic in the medium run than in the long run
D) uses an AS-curve that is vertical in the long run and horizontal in the very short run
E) all of the above