Refer to the Diagram $\mathrm { AS } _ { 2 } \text { to } \mathrm { AS } _ { 1 }$

question 36

Multiple Choice

Refer to the diagram. 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 A \(\mathrm { AS } _ { 2 } \text { to } \mathrm { AS } _ { 1 }\)
• C) move from a to c to d.
• D) leftward shift of the aggregate supply curve from A \(\mathrm { AS } _ { 1 } \text { to } \mathrm { AS } _ { 2 }\)

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Definitions:

Conjugate Acid

The species formed when a base gains a proton (H+), effectively showing the protonated form of the base.

Conjugate Base

The species that remains after a Bronsted-Lowry acid has donated a proton, capable of accepting a proton to reform the acid.

Acid/Base Reaction

A chemical reaction that involves the transfer of protons (H+) between a base (proton acceptor) and an acid (proton donor).

Basicity

A measure of the ability of a substance to accept hydrogen ions (protons), often used to describe the strength of bases.