Multiple Choice
Refer to the information provided in Figure 27.4 below to answer the question(s) that follow. 
Figure 27.4
-Refer to Figure 27.4. If the economy is currently at the intersection of AS and AD, stagflation would be caused by
Identify the economic decisions regarding what, how, and for whom to produce as foundational questions addressed by any economic system.
Understand the impact of technological improvements on production efficiency and the economy's potential output.
Comprehend the role of market forces, represented by Adam Smith's "invisible hand", in allocating resources efficiently.
Distinguish between capitalist and command (or socialist) economies in terms of property rights, decision-making, and economic coordination.
Definitions:
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