Question 4: Use the above figure to answer below questions. a)  Which figure corresponds to the effects of higher price of oil? b) Which figure corresponds to the effects of a war in a country? c) Which figure corresponds to the effects of higher nominal wages? d)  Which figure corresponds to the effects of advancements in computer technologies and internet?

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Question 4: Use the above figure to answer below questions.
a)  Which figure corresponds to the effects of higher price of oil?
b) Which figure corresponds to the effects of a war in a country?
c) Which figure corresponds to the effects of higher nominal wages?
d)  Which figure corresponds to the effects of advancements in computer
technologies and internet?

Price level
Price level
LAS₁ LASO SAS1
SASO
Real GDP
Figure A
LASO LAS1 SASO
SAS₁
Real GDP
Figure C
Price level
Price level
LAS SAS₁
SASO
Figure D
Real GDP
Figure B
LAS SASO
X
SAS₁
Real GDP
Transcribed Image Text:Price level Price level LAS₁ LASO SAS1 SASO Real GDP Figure A LASO LAS1 SASO SAS₁ Real GDP Figure C Price level Price level LAS SAS₁ SASO Figure D Real GDP Figure B LAS SASO X SAS₁ Real GDP
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