Question: This graph depicts a business cycle with multiple expansion peaks and recession troughs. However, the overall, long-term trend is that of growth. Which of the
This graph depicts a business cycle with multiple expansion peaks and recession troughs. However, the overall, long-term trend is that of growth. Which of the following corresponds with the trough in this graph? In this graph, the horizontal x-axis represents the RGDP, and the vertical y-axis represents the price level. The LRAS curve starts at the middle of the x-axis, at x = 5, and ends high up along the y-axis. This LRAS curve is parallel to the y-axis, cutting the graph in two vertical halves. The SRAS curve begins at x = 1 and y = 1 and ends at x = 12 and y = 12. The AD curve begins approximately at x = 3 and y = 11 and ends at x = 11 and y = 1. In this graph, the horizontal axis represents the RGDP, and the vertical axis represents the price level. The LRAS curve starts at the middle of the x-axis, at x = 6, and ends high up along the y-axis. This LRAS curve is parallel to the y-axis, cutting the graph in two vertical halves. The SRAS curve begins at x = 1 and y = 1 and ends at x
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