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Refer to the Graph Above

Question 32

Multiple Choice

Refer to the graph above. Suppose that the economy is at an initial equilibrium where the AD<sub>1</sub> and AS<sub>1</sub> curves intersect. Demand-pull inflation in the short run can best be represented as a shift of: A) AS<sub>1</sub> to the right B) AD<sub>1</sub> to the right C) AS<sub>1</sub> to the left D) AD<sub>1</sub> to the left Refer to the graph above. Suppose that the economy is at an initial equilibrium where the AD1 and AS1 curves intersect. Demand-pull inflation in the short run can best be represented as a shift of:


A) AS1 to the right
B) AD1 to the right
C) AS1 to the left
D) AD1 to the left

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