-Referring to the Aggregate Demand - Aggregate Supply diagram in Figure 8.1, which box should be filled with the label PI for "price index?"
A)Box 1
B)Box 4
C)Box 5
D)Box 6

Name: -Referring to the Aggregate Demand - Aggregate Supply diagram in Figure 8.1, which box should be filled with the label PI for "price index?" A)Box 1 B)Box 4 C)Box 5 D)Box 6
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Question

-Referring to the Aggregate Demand - Aggregate Supply diagram in Figure 8.1, which box should be filled with the label PI for "price index?" 
A)Box 1 
B)Box 4 
C)Box 5 
D)Box 6

Quizplus · Accepted Answer

In the Aggregate Demand - Aggregate Supply diagram, the vertical axis typically represents the price level or price index, which corresponds to Box 1.

-Referring to the Aggregate Demand - Aggregate Supply Diagram in Figure