Exhibit 5.3 -Refer to Exhibit 5.3 Which Shows the Aggregate Demand and the Aggregate

Multiple Choice

Exhibit 5.3

-Refer to Exhibit 5.3 which shows the aggregate demand and supply curves for the United States. The price level changes from _____ when the aggregate supply curve shifts from AS' to AS".

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