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Keith_Richards [23]
3 years ago
8

The short-Run Macroeconomic Model is very similar to the standard model for markets. In what ways are these two models different

?
A) slope of demand curve
B) slope of supply curve
C) labeling of axis
Mathematics
1 answer:
Semmy [17]3 years ago
4 0

Answer: Option (c) is correct

Step-by-step explanation:

Slope of demand curve is negative and slope of supply curve is positive in both the models.

But labeling of axis is different in both the models. In the short-run macroeconomic model, y-axis represents the price level whereas x-axis represents the GDP.

While in the standard model for markets, y-axis shows the general price level whereas x-axis represents the output level.

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