Aggregate Demand and Supply Curves Have Been Widely Used to Analyze

question 141

Multiple Choice

Aggregate demand and supply curves have been widely used to analyze the performance of the macroeconomy. Figure 5-3 shows four diagrams that represent different changes in the macroeconomy. Choose the diagram that best represents the situations described in the following questions. Figure 5-3  

Which graph in Figure 5-3 best represents the supply-side shock of the 1970s oil crisis?

• A) 1
• B) 2
• C) 3
• D) 4

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