Fill in the Blanks: as a Dynamic Response to Demand

question 44

Essay

Fill in the blanks: As a dynamic response to demand shock in the short run, the DAD curve shifts (say in period t) ___________, causing inflation to___________ and output to ___________, while in next period (t+1) causing the aggregate supply curve to __________ .

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Definitions:

Extraversion

A personality trait characterized by outgoingness, sociability, and a preference for external stimulation.

Environmental Influences

External factors or conditions that affect an individual's development, behavior, and personality.

Psyche

The human soul, mind, or spirit, often considered the totality of a person's mental and emotional identity or consciousness.

Development

involves the process of growth, change, and progression in physical, emotional, intellectual, and social capabilities and understanding throughout the lifespan.