PRICE LEVEL aa" a" Figure 33-3 LRAS B Y₁ Y₂ QUANTITY OF OUTPUT SRAS, SRAS,₂ AD Refer to Figure 33-3. The shift of the short-run aggregate-supply curve from SRAS₁ to SRAS2 a. could be caused by an outbreak of war in the Middle East. O b. could be caused by a decrease in the expected price level. O c. causes the economy to experience stagflation. d. causes the economy to experience an increase in the unemployment rate.
PRICE LEVEL aa" a" Figure 33-3 LRAS B Y₁ Y₂ QUANTITY OF OUTPUT SRAS, SRAS,₂ AD Refer to Figure 33-3. The shift of the short-run aggregate-supply curve from SRAS₁ to SRAS2 a. could be caused by an outbreak of war in the Middle East. O b. could be caused by a decrease in the expected price level. O c. causes the economy to experience stagflation. d. causes the economy to experience an increase in the unemployment rate.
Chapter1: Making Economics Decisions
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Transcribed Image Text:PRICE LEVEL
P₂
Figure 33-3
LRAS
4
B
Y₁ Y₂
QUANTITY OF OUTPUT
SRAS₁
SRAS₂
AD
Refer to Figure 33-3. The shift of the short-run aggregate-supply curve from SRAS₁
to SRAS2
a. could be caused by an outbreak of war in the Middle East.
O b. could be caused by a decrease in the expected price level.
c. causes the economy to experience stagflation.
d. causes the economy to experience an increase in the unemployment rate.
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