The figure given below depicts long-run equilibrium in the aggregate demand-aggregate supply model.Which of the following changes is depicted by the movement from Y1 to Y2?
Definitions:
General Journal
A basic accounting ledger where all types of transactions are initially recorded, using a double-entry bookkeeping system, before being posted to specific accounts in the general ledger.
Sales Journal
A specialized accounting journal used to record all sales of merchandise on credit.
Accrual Basis
A financial recording technique that documents incomes and expenses as they are incurred or earned, without taking into account the timing of cash transactions.
Cash Basis
An accounting method wherein revenues and expenses are recorded when they are actually received or paid, rather than when they are incurred.
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