Exhibit 14-8 Aggregate Demand and Supply

question 58

Multiple Choice

Exhibit 14-8 Aggregate demand and supply

-In Exhibit 14-8,when aggregate demand shifts from AD₄ to AD₅,the economy experiences:

• A) cost push-inflation.
• B) cost-pull inflation.
• C) demand-push inflation.
• D) demand-pull inflation.
• E) price-pull inflation.

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Definitions:

Equitable Remedy

A judicial order enforcing a party to act or refrain from acting in a certain way, distinct from awarding damages.

Material And Willful

Refers to an action done intentionally and with a solid understanding of its consequences, often used in legal contexts to describe behavior.

Status Quo

The existing state of affairs or current condition, typically used in context with agreements or legal situations.

Quasi Contract

An obligation imposed by law to prevent unjust enrichment, even though no contract exists between the parties.