Which of the Following Is Correct If There Is an Adverse

question 4

Multiple Choice

Which of the following is correct if there is an adverse supply shock?

• A)The short-run aggregate supply curve and the short-run Phillips curve both shift right.
• B)The short-run aggregate supply curve and the short-run Phillips curve both shift left.
• C)The short-run aggregate supply curve shifts right and the short-run Phillips curve shifts left.
• D)The short-run aggregate supply curve shifts left and the short-run Phillips curve shifts right.

---

Definitions:

Andrew Johnson

The 17th president of the United States, who served from 1865 to 1869, succeeding Abraham Lincoln following his assassination, and was the first American president to be impeached.

Radical Republicans

Group within the Republican Party in the 1850s and 1860s that advocated strong resistance to the expansion of slavery, opposition to compromise with the South in the secession crisis of 1860–1861, emancipation and arming of black soldiers during the Civil War, and equal civil and political rights for blacks during Reconstruction.

Equal Rights

The principle that all people should have the same rights and opportunities without discrimination.

Thaddeus Stevens

A nineteenth-century U.S. politician and fierce advocate for the abolition of slavery and leader in the effort to implement Reconstruction policies aimed at securing rights for freed slaves.