Aggregate demand and supply curves have been widely used to analyze the performance of the macroeconomy.Figure 5-3 shows four diagrams that represent different changes in the macroeconomy.Choose the diagram that best represents the situations described in the following questions.
Figure 5-3
-Which graph in Figure 5-3 best represents the economic conditions of the American economy in 2001?
A)1
B)2
C)3

Question

Aggregate demand and supply curves have been widely used to analyze the performance of the macroeconomy.Figure 5-3 shows four diagrams that represent different changes in the macroeconomy.Choose the diagram that best represents the situations described in the following questions.
Figure 5-3 
-Which graph in Figure 5-3 best represents the economic conditions of the American economy in 2001?
A)1 
B)2 
C)3

Quizplus · Accepted Answer

Graph 2 best represents the economic conditions of the American economy in 2001, which was characterized by a recession. This period saw a decline in economic activity, reflected in Graph 2 by a downward trend.

Aggregate Demand and Supply Curves Have Been Widely Used to Analyze