Asked by
Olivia Lopez
on Oct 13, 2024
Verified
When we draw an aggregate demand curve,what do we put on the vertical axis?
A) The total quantity of goods and services demanded
B) The full employment output
C) The quantity of money
D) The price level
Aggregate Demand Curve
A graphical representation showing the relationship between the total quantity of goods and services demanded and the overall price level.
Vertical Axis
In a graph or chart, the y-axis, which is typically used to measure the dependent variable or the value being investigated.
Price Level
A measure of the average of current prices across the entire spectrum of goods and services produced in the economy, often used to analyze inflation.
- Identify the elements influencing the aggregate demand curve and understand how movements in aggregate demand impact economic conditions.
Verified Answer
DA
Learning Objectives
- Identify the elements influencing the aggregate demand curve and understand how movements in aggregate demand impact economic conditions.