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Question
Refer to the above diagram. When output decreases from Q1 and the price level increases from P1, then this change will:
A. be caused by a shift in the aggregate supply curve from AS1 to AS3.
B. be caused by a shift in the aggregate supply curve from AS2 to AS1.
C. result in a movement along the aggregate demand curve from e2 to e1.
D. result in a movement along the aggregate demand curve from e1 to e2.
Answer
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Related questions
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If the price of product L increases, the demand curve for close-substitute product J will:
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Q:
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Refer to the above figure. If flow (1) is the cost businesses pay to the resource market, then:
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Refer to the above table. If demand is represented by columns (3) and (2) and supply is represented by columns (3) and (5), equilibrium price and quantity will be:
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Suppose an excise tax is imposed on product X. We would expect this tax to:
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Q:
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Q:
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Q:
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