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The CMOS inverter should take the given sine wave and invert it so that the high peaks will become the low peaks and the low peaks will become the high peaks. The wave will remain in the same position, but it will be inverted. An easier way to visualize it is to say that a 1 goes into the inverter, then a 0 will come out. If a 0 goes into the inverter, then a 1 will come out. This happens because we have a p-channel FET, which is connected to Vdd, and an n-channel FET which is connected to ground. The P-FET is normally closed, meaning when there is no voltage applied to it, it will allow current to flow through it. The N-FET is normally open, meaning when there is no voltage applied to it, it will not allow current to flow through it. So when a 0 goes into the inverter, the P-FET is the only FET closed. The P-FET is connected to Vdd, so it will allow a 1 to go to Vout. If a 1 goes