CONCEPT: The question tests on the area of graphs and functions

SOLUTION:
 

The equation |y| = x^2 represents the union of two equations, y=x^2 and -y=x^2
Equation y=x^2 is a parabola extending upwards from (0,0) and
Equation -y=x^2 is the equation of the parabola extending downwards.
 Hence (OPTION C)