OA. Graph C. B. Graph B. OC. Graph A. OD. Graph D. Inflation Rate Graph A LRAS AS Ye Y AS AD AD Inflation Rate Graph B LRAS AS₂ AS Y Y NAD₂ Inflation Rate Graph C AS LRAS AS AD YY Inflation Rate Graph D AS LRAS AS Y Y AD Time Remaining: 00:05:45 Classify the following situation as a supply or demand shock: Favorable weather produces a record crop of wheat and corn in the Midwest. A. A negative demand shock B. A negative (temporary) supply shock C. A positive (temporary) supply shock. OD. A positive demand shock. Determine the effects on inflation and output in the short run and the long run using AD/AS graph analysis. In the short run, output decreases and inflation In the long run, output to potential and inflation Which of the following graphs illustrates your previous answer? a Graph A LRAS AS Graph B LRAS a Sa Graph C LRAS AS Graph D TRAS AS a AS. AS
OA. Graph C. B. Graph B. OC. Graph A. OD. Graph D. Inflation Rate Graph A LRAS AS Ye Y AS AD AD Inflation Rate Graph B LRAS AS₂ AS Y Y NAD₂ Inflation Rate Graph C AS LRAS AS AD YY Inflation Rate Graph D AS LRAS AS Y Y AD Time Remaining: 00:05:45 Classify the following situation as a supply or demand shock: Favorable weather produces a record crop of wheat and corn in the Midwest. A. A negative demand shock B. A negative (temporary) supply shock C. A positive (temporary) supply shock. OD. A positive demand shock. Determine the effects on inflation and output in the short run and the long run using AD/AS graph analysis. In the short run, output decreases and inflation In the long run, output to potential and inflation Which of the following graphs illustrates your previous answer? a Graph A LRAS AS Graph B LRAS a Sa Graph C LRAS AS Graph D TRAS AS a AS. AS
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Solve all questions compulsory..... And fill in blanks and underline the correct sentence pls .........
Transcribed Image Text:OA. Graph C.
B. Graph B.
OC. Graph A.
OD. Graph D.
Inflation Rate
Graph A
LRAS
AS
Ye Y
AS
AD AD
Inflation Rate
Graph B
LRAS
AS₂
AS
Y Y
NAD₂
Inflation Rate
Graph C
AS
LRAS
AS
AD
YY
Inflation Rate
Graph D
AS
LRAS
AS
Y Y
AD
Time Remaining: 00:05:45
Transcribed Image Text:Classify the following situation as a supply or demand shock:
Favorable weather produces a record crop of wheat and corn in the Midwest.
A. A negative demand shock
B. A negative (temporary) supply shock
C. A positive (temporary) supply shock.
OD. A positive demand shock.
Determine the effects on inflation and output in the short run and the long run using AD/AS graph analysis.
In the short run, output decreases and inflation
In the long run, output
to potential and inflation
Which of the following graphs illustrates your previous answer?
a
Graph A
LRAS
AS
Graph B
LRAS
a
Sa
Graph C
LRAS
AS
Graph D
TRAS
AS
a
AS.
AS
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