Which of the following statements is true?
A) The aggregate demand-aggregate supply model attempts to explain the equilibrium level of real GDP and the price level.
B) The aggregate demand-aggregate supply model gives us inflation and the various levels of real GDP.
C) The inflation-unemployment relationships attempt to explain the equilibrium level of real GDP.
D) The inflation-unemployment phases are based on movements up and down the Phillips curve.
Correct Answer:
Verified
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