Figure 17-8. 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 17-8. The shift of the aggregate-supply curve from AS1 to AS2 could be a consequence of
Definitions:
Yardstick Approach
A method of evaluation that involves comparing a current situation or performance against a standard measure or "yardstick."
Logical Arguments
Reasoning that follows a clear, structured line of thought, typically leading from premises to a conclusion.
Benchmarks
Standard points of reference against which things may be compared or assessed.
Criteria
Standards or principles by which something is judged or decided.
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