For the Following Question(s),assume That the Economy Is in Long-Run

question 53

Multiple Choice

For the following question(s) ,assume that the economy is in long-run equilibrium in the aggregate demand/aggregate supply model and that some sort of event takes place.In each case,mark the most likely impact of the event on the aggregate demand/aggregate supply diagram given below.
Figure 10-19

-Refer to Figure 10-19.A major technological advance occurs.

• A)The aggregate demand curve would shift to the right.
• B)The aggregate demand curve would shift to the left.
• C)Both the short-run and the long-run aggregate supply curves would shift to the right.
• D)Both the short-run and the long-run aggregate supply curves would shift to the left.

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