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Card 1 of 20

On an aggregate supply diagram, the vertical axis shows the [     ] and the horizontal axis shows [     ].

A

On an aggregate supply diagram, the vertical axis shows the price level and the horizontal axis shows real GDP.

B

On an aggregate supply diagram, the vertical axis shows the inflation rate and the horizontal axis shows real GDP.

C

On an aggregate supply diagram, the vertical axis shows the real GDP and the horizontal axis shows price level.

D

On an aggregate supply diagram, the vertical axis shows the price level and the horizontal axis shows nominal GDP.

Card 1 of 20

Aggregate supply Flashcards

  1. A Level
  2. /Economics
  3. /Aggregate supply

20 flashcards on OCR A Level Economics Aggregate supply: the key terms, economic models and case studies you need to recall for Component 01, Component 02 and Component 03.

Flashcards