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Refer to the Following Figure to Answer the Following Questions

Question 24

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Refer to the following figure to answer the following questions. Refer to the following figure to answer the following questions.   -Based on the figure,which of the following would cause the short-run aggregate supply curve to shift from SRAS<sub>1</sub> to SRAS<sub>2</sub>? A)  Congress votes to increase the minimum wage. B)  There is an increase in spending and firms respond by producing more output. C)  Wages and input prices fall as the economy recovers from a recession. D)  A severe drought reduces farm production. E)  A temporary rise in the price of oil results in higher gasoline prices.
-Based on the figure,which of the following would cause the short-run aggregate supply curve to shift from SRAS1 to SRAS2?


A) Congress votes to increase the minimum wage.
B) There is an increase in spending and firms respond by producing more output.
C) Wages and input prices fall as the economy recovers from a recession.
D) A severe drought reduces farm production.
E) A temporary rise in the price of oil results in higher gasoline prices.

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