Economic Growth in India Has Averaged About 8

question 114

Multiple Choice

Economic growth in India has averaged about 8.5 percent in recent years and while inflation averaged almost 9 percent. The AS-AD model shows this process as

• A) rightward shifts in the both the aggregate demand and long-run aggregate supply curves.
• B) rightward shifts in the aggregate demand curve and leftward shifts in the short -run aggregate supply curve.
• C) rightward shifts in the short-run aggregate supply curve.
• D) movements upward along the aggregate demand curve.

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Definitions:

Situational Factors

Elements present in an environment that can influence the behavior or feelings of individuals.

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Refers to the existence of multiple theories or perspectives within a field of study, allowing for rich analysis and understanding.

Objective Data

Information that is based on observable and measurable facts, independently of any personal feelings, interpretations, or prejudice.

Interpretations

The act of explaining or understanding the meaning of something, such as a text, situation, or behavior.