In the Dynamic Aggregate Demand and Aggregate Supply Model, Inflation

question 19

Multiple Choice

In the dynamic aggregate demand and aggregate supply model, inflation occurs if

• A)AD shifts faster than SRAS.
• B)AD shifts slower than SRAS.
• C)SRAS shifts faster than AD.
• D)LRAS shifts faster than AD.
• E)LRAS shifts faster than SRAS.

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Definitions:

Voting Rights Act

A landmark piece of federal legislation in the United States that was signed into law in 1965 to eliminate legal barriers at the state and local levels that prevented African Americans from exercising their right to vote.

Veto

The constitutional right to reject a decision or proposal made by a law-making body. It is often used by the president or head of state in many countries.

Richard Nixon

The 37th President of the United States (1969–1974), known for his foreign policy achievements and the Watergate scandal that led to his resignation.