29.3 Reducing Inflation The Three Figures Below Show the Phases of a Disinflation.In

question 108

Multiple Choice

29.3 Reducing Inflation
The three figures below show the phases of a disinflation.In part (i) ,the economy is experiencing a sustained inflation at E₁. FIGURE 29-4
-Refer to Figure 29-4,part (iii) .Consider the recovery phase of the disinflation process when output is returning from to Y*.Real GDP can return to potential either by ________,or by ________.

• A)the AS curve falling slowly back to ; further monetary contraction which shifts the AD curve to
• B)the AS curve falling slowly back to ; a monetary expansion which shifts the AD curve to
• C)fiscal policy which causes the AS curve to shift back to ; a monetary expansion which shifts the AD curve to
• D)legislating a wage-and-price freeze which shifts the AS curve back to ; a further contraction of monetary policy which shifts the AD curve to
• E)the AS curve drifting upward to ; the AD curve drifting back to

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