Refer to the Diagram Below

question 67

Multiple Choice

Refer to the diagram below.The initial aggregate demand curve is AD₁ and the initial aggregate supply curve is AS₁.Assuming no change in aggregate demand, the long-run response to a recession caused by cost-push inflation is best depicted as a:

• A)move from a to d along the long-run aggregate supply curve.
• B)rightward shift of the aggregate supply curve from AS₂ to AS₁.
• C)move from a to c to d.
• D)leftward shift of the aggregate supply curve from AS₁ to AS₂.

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Definitions:

Loss Occurs

Refers to the moment when a financial loss happens due to an insured event.

Insurable Interest

A requirement that a person seeking to purchase insurance has a sufficient stake in the safety or preservation of the insured item or individual to obtain insurance coverage.

Named Beneficiary

An individual, group, or entity explicitly designated to receive benefits from a policy or account.

Partnership

A lawful business structure operated by two or more people who divide management duties and share the profits.