The Figure Given Below Depicts the Long Run Equilibrium in an Economy.?Figure

question 63

Multiple Choice

The figure given below depicts the long run equilibrium in an economy.?Figure 14.1??In the figure:?AD₁ and AD₂: Aggregate demand curves?AS₁ and AS₂: Aggregate supply curves

-Refer to Figure 14.1. Movement from point A to point C is equivalent to:

• A) an upward movement along the long-run Phillips curve.
• B) an outward shift of the short-run Phillips curve.
• C) an upward movement along the short-run Phillips curve.
• D) an inward shift of the long-run Phillips curve.
• E) a downward movement along the long-run Phillips curve.

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