1.) Use the line drawing tool to show the effects of a positive aggregate demand shock that might result from consumers becoming more optimistic. Properly label this line. Price Level, P LRAS' 2.) Use the point drawing tool to identify the new short run equilibrium. Label this point 'B'. SRAS1 `AD1 Output, Y

1.) Use the line drawing tool to show the effects of a positive aggregate demand shock that might result from consumers becoming more optimistic. Properly label this line. Price Level, P LRAS' 2.) Use the point drawing tool to identify the new short run equilibrium. Label this point 'B'. SRAS1 `AD1 Output, Y

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 25RQ: How does one analyze a market where both demand and supply shift?

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