Figure 33-3 -Refer to Figure 33-3. The shift of the short-run aggregate-supply curve from SRAS₂ to SRAS₁ A)could be caused by a decrease in the expected price level. B)could be caused by an outbreak of war in the Middle East. C)causes the economy to experience a decrease in the unemployment rate. D)causes the economy to experience a drop in the price level.

Question

Quizplus · Accepted Answer

An outbreak of war in the Middle East could disrupt supply chains and increase production costs, causing the short-run aggregate supply curve to shift left from SRAS2 to SRAS1.

Figure 33-3 -Refer to Figure 33-3. the Shift of the Short-Run Aggregate-Supply