Inflation can be caused either by rapid growth rate of aggregate demand or by sluggish growth of aggregate supply.

An economic ________ is a simplified version of some aspect of economic life used to analyze an economic issue

A) market B) trade-off C) variable D) model

A seller's supply curve shows the seller's:

A. opportunity cost of producing an additional unit of output at each quantity. B. profit from producing an additional unit of output at each quantity. C. hourly wage for producing an additional unit of output at each quantity. D. willingness to pay for an additional unit of output at each quantity.