Refer to the Diagram Given Below

question 19

Multiple Choice

Refer to the diagram given below. Assume that the nominal wages of workers are initially set on the basis of the price level P₂ and that the economy is initially operating at its full-employment level of output Q_f.In the long run, demand-pull inflation could best be shown as:

• A)a movement from point b to point c on AS₂.
• B)a movement from point a to point b.
• C)a shift of the aggregate supply curve from AS₂ to AS₁.
• D)a movement from point b to point d.

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Definitions:

Safety Or Dignity

A dilemma regarding whether to prioritize physical safety or the preservation of personal dignity and human rights in decision-making.

Relative Dating

In archaeology and paleoanthropology, designating an event, object, or fossil as being older or younger than another by noting the position in the earth, by measuring the amount of chemicals contained in fossil bones and artifacts, or through association with other plant, animal, or cultural remains.

Dating Technique

A method used to determine the age of materials, artifacts, and geological formations, often employed in archaeology and geology.

Comparative Approach

A research methodology that involves comparing different subjects, such as societies, cultures, or economic systems, to understand similarities, differences, and patterns.