Price level (P) LRAS, LRAS₂ A C OLRAS2 to LRAS1. SRAS2 to SRAS1. SRAS1 to SRAS2. B Based on the graph, a positive supply shock is best represented by a movement from LRAS2 to LRAS and SRAS1 to SE S2. LRAS1 to LRAS2. SRAS₁ SRAS₂ AD₁ Real GDP (Y)
Price level (P) LRAS, LRAS₂ A C OLRAS2 to LRAS1. SRAS2 to SRAS1. SRAS1 to SRAS2. B Based on the graph, a positive supply shock is best represented by a movement from LRAS2 to LRAS and SRAS1 to SE S2. LRAS1 to LRAS2. SRAS₁ SRAS₂ AD₁ Real GDP (Y)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
please help
![Price
level
(P)
LRAS, LRAS₂
A
U
LRAS2 to LRAS1.
SRAS2 to SRAS1.
Based on the graph, a positive supply shock is best represented by a movement from
LRAS2 to LRAS1 and SRAS1 to SRAS2.
SRAS1 to SRAS2.
SRAS,
AD₁
O LRAS1 to LRAS2.
SRAS₂
Real GDP
(Y)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9098e93f-58c3-4fbc-8e45-6d7188b73c6d%2F7c5570d3-1fca-4b46-86e8-6c423bd4bb74%2Fay6c5bi_processed.png&w=3840&q=75)
Transcribed Image Text:Price
level
(P)
LRAS, LRAS₂
A
U
LRAS2 to LRAS1.
SRAS2 to SRAS1.
Based on the graph, a positive supply shock is best represented by a movement from
LRAS2 to LRAS1 and SRAS1 to SRAS2.
SRAS1 to SRAS2.
SRAS,
AD₁
O LRAS1 to LRAS2.
SRAS₂
Real GDP
(Y)
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