Multiple Choice
A study of the U.S.price level and real GDP from 1972 to 2007 reveals a clear upward march toward higher prices and greater output.What explains this?
A) Both the aggregate demand curve and the aggregate supply curve have shifted to the left year after year.
B) Both the aggregate demand curve and the aggregate supply curve have shifted to the right year after year.
C) The aggregate supply curve has shifted to the right, while the aggregate demand curve has shifted to the left.
D) The aggregate supply curve has shifted to the left, while the aggregate demand curve has shifted to the right.
Correct Answer:
Verified
Correct Answer:
Verified
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