What are the axes of an AD/AS diagram?
A
The nominal output is on the vertical axis and real output is on the horizontal axis.
B
The average price level is on the vertical axis and real output is on the horizontal axis.
C
The average price level is on the horizontal axis and nominal output is on the vertical axis.
D
The real output is on the vertical axis and average price level is on the horizontal axis.
2.2.2 Aggregate demand and aggregate supply analysis Flashcards
Flashcards for AQA A Level Economics 2.2.2 Aggregate demand and aggregate supply analysis, covering the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3. 24 cards, matched to the AQA A Level Economics (7136) specification.