The Figure Below Shows Short-Run Equilibrium in an Aggregate Demand-Aggregate

question 87

Multiple Choice

The figure below shows short-run equilibrium in an aggregate demand-aggregate supply model.If the economy is currently producing Y1 level of output,long-run equilibrium will be established if:

• A)the short-run aggregate supply curve shifts to the right to remove the expansionary gap.
• B)the short-run aggregate supply curve shifts to the left to remove the expansionary gap.
• C)the short-run aggregate supply curve shifts to the left to remove the recessionary gap.
• D)the short-run aggregate supply curve shifts to the right to remove the recessionary gap.
• E)there is a leftward shift of the aggregate demand curve.

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Definitions:

Communication Content

The information, messages, and meanings that are exchanged in communication processes.

Metaphor Analysis

An analytical technique in qualitative research focused on understanding how metaphors shape perceptions, concepts, and actions.

Organizational Power Structures

The arrangement of authority and relationships within an organization that determines how power and decision-making are exercised and distributed.

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