Economic Growth in India Has Averaged About 8

Multiple Choice

Economic growth in India has averaged about 8.5 percent in recent years and while inflation averaged almost 9 percent. The AS-AD model shows this process as

A) rightward shifts in the both the aggregate demand and long-run aggregate supply curves.
B) rightward shifts in the aggregate demand curve and leftward shifts in the short -run aggregate supply curve.
C) rightward shifts in the short-run aggregate supply curve.
D) movements upward along the aggregate demand curve.