FIGURE 24-5 -Refer to Figure 24-5.The Economy Is Not in Long-Run Equilibrium

question 94

Multiple Choice

FIGURE 24-5

-Refer to Figure 24-5.The economy is not in long-run equilibrium at E1 because the

• A)AD1 curve will shift back to AD0 due to an increase in the price level.
• B)AD1 curve will shift back to the left due to a fall in current consumption.
• C)AS will shift to the left due to an increase in wages.
• D)AS will shift to the left due to an increase in the price level.
• E)AS will shift to the right due to a decrease in the price level.

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Definitions:

Catastrophic Melting

Rapid melting of ice or snow, often due to volcanic activity or sudden climate change, that can lead to significant water flow or flooding.

Pyroclastic Flow

A fast-moving current of hot gas and volcanic materials (ash, lava fragments) that flows down the sides of a volcano during an explosive eruption.

Lahar

A mudflow mostly composed of volcanic-derived materials and generally formed on the flank of a volcano.

Composite Volcanoes

Volcanoes constructed from multiple layers of lava flows, volcanic ash, and other volcanic debris, characterized by steep profiles and periodic explosive eruptions.