[Solved] Consider the Global Recession That Began in Late 2008

Question 99
Multiple Choice

Consider the global recession that began in late 2008.In terms of the AD/AS model,which of the following statements best describes the macroeconomic effect on Canadaʹs economy?

A)The AD curve shifted to the right due to reduced demand for Canadian exports,which created a recessionary gap.
B)The AD curve shifted to the left due to reduced demand for Canadian exports,which created a recessionary output gap.
C)The AS curve shifted to the right due to increased factor prices,which created a recessionary gap.
D)The AS curve shifted to the left due to increased factor prices,which created a recessionary gap.
E)Potential GDP fell,which reduced actual national income.

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