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For Any Given Year the AD/AS Model Illustrates the Relationship

Question 32

Multiple Choice

For any given year the AD/AS model illustrates the relationship between:


A) the level of employment and real GDP (Y) .
B) the GDP deflator (P) and the unemployment rate.
C) the GDP deflator (P) and real GDP (Y) .
D) current real GDP (Y) and real GDP (Y) in the previous year.
Use the following Figure 5.1 to answer question 5:

Correct Answer:

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