In the Long Run, Persistent Inflation in the United States

question 237

Multiple Choice

In the long run, persistent inflation in the United States is caused by

• A) leftward shifts in both the long-run aggregate supply curve and in the aggregate demand curve.
• B) rightward shifts in the long-run aggregate supply curve and the leftward shift of the aggregate demand curve.
• C) a faster rightward shift of the aggregate demand curve than the rightward shift of the long-run aggregate supply curve.
• D) leftward shifts in the aggregate demand curve while the position of the long-run supply curve is unchanged.

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