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Which one of the following statements regarding the aggregate demand-aggregate supply (AD-AS) model is correct? a.The AD-AS model cannot be used to determine the changes

Which one of the following statements regarding the aggregate demand-aggregate supply (AD-AS) model is correct?

a.The AD-AS model cannot be used to determine the changes in the general price level.

b.The AD-AS model seeks to explain the general price level and the total production of goods and services.

c.The AD curve shows the aggregate quantities of a specific product that are demanded at different prices.

d.The AS curve illustrates the levels of total expenditure in the economy at various price levels.

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