Aggregate Demand and Supply Curves Have Been Widely Used to Analyze

Multiple Choice

Aggregate demand and supply curves have been widely used to analyze the performance of the macroeconomy.Figure 5-3 shows four diagrams that represent different changes in the macroeconomy.Choose the diagram that best represents the situations described in the following questions.
Figure 5-3
-Which graph in Figure 5-3 best represents the supply-side shock of the 1970s oil crisis?

A) 1
B) 2
C) 3
D) 4