Figure 22-8

question 323

Multiple Choice

Figure 22-8. The left-hand graph shows a short-run aggregate-supply (SRAS) curve and two aggregate-demand (AD) curves. On the right-hand diagram, "Inf Rate" means "Inflation Rate."
-Refer to Figure 22-8. The shift of the aggregate-supply curve from AS₁ to AS₂ could be a consequence of

• A)an increase in the money supply.
• B)an adverse supply shock.
• C)a decrease of output from Y₁ to Y₂.
• D)a slow adjustment of people's expectation of the inflation rate.

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Definitions:

Internal Transactions

Financial transactions that occur within an entity, affecting its internal accounts without involving external parties.

Partial Payment

A payment made that is not the full amount owed at the time, typically agreed upon in advance between debtor and creditor.

Cash Receipts Journal

A specialized accounting journal that tracks all cash inflows or money received by a business.

Sales Journal

A specialized accounting journal used to record all sales made by a business on credit.