Multiple Choice
Use the following to answer questions .
Exhibit: AD-AS and the Inflation-Unemployment Cycle 
-(Exhibit: AD-AS and the Inflation-Unemployment Cycle) Over time, the aggregate supply curve shifts from SRAS1 to SRAS2
Because of
A) rising output prices.
B) economic agents adjust their expectations regarding prices and wages downwards.
C) a fall in nominal wages.
D) economic agents adjust their expectations regarding prices and wages upwards.
Correct Answer:
Verified
Correct Answer:
Verified
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