The following graph illustrates a shift of the aggregate demand curve to the left. It can be caused by: LRAS Select all that apply: contractionary monetary policy expansionary monetary policy pro-cyclical monetary policy countercyclical monetary policy Price Level (base year = 100) 120 110 100 90 00 80 400 500 600 SRAS wi AD E₁ AD, 700 Real Output (constant dollars) 800
The following graph illustrates a shift of the aggregate demand curve to the left. It can be caused by: LRAS Select all that apply: contractionary monetary policy expansionary monetary policy pro-cyclical monetary policy countercyclical monetary policy Price Level (base year = 100) 120 110 100 90 00 80 400 500 600 SRAS wi AD E₁ AD, 700 Real Output (constant dollars) 800
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:The following graph illustrates a shift of the aggregate demand curve to the left. It can be caused by:
LRAS
Select all that apply:
contractionary monetary policy
expansionary monetary policy
pro-cyclical monetary policy
countercyclical monetary policy
Price Level (base year = 100)
120
110
100
90
00
80
400
500
600
SRAS
wi
AD
E₁
AD,
700
Real Output (constant dollars)
800
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