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-In the Above Figure, the Short-Run Aggregate Supply Curve Is

Question 7

Multiple Choice

-In the above figure, the short-run aggregate supply curve is SAS and the aggregate demand curve is AD. An inflationary gap exists A) if the long-run aggregate supply curve is LAS<sub>3</sub>. B) if the long-run aggregate supply curve is LAS<sub>2</sub>. C) if the long-run aggregate supply curve is LAS<sub>1</sub>. D) All of the above answers are correct.
-In the above figure, the short-run aggregate supply curve is SAS and the aggregate demand curve is AD. An inflationary gap exists


A) if the long-run aggregate supply curve is LAS3.
B) if the long-run aggregate supply curve is LAS2.
C) if the long-run aggregate supply curve is LAS1.
D) All of the above answers are correct.

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