Multiple Choice
On an aggregate demand and aggregate supply graph, how can the stagflation of the 1970s be represented?
A) as a leftward shift of the aggregate supply curve
B) as a rightward shift of the aggregate supply curve
C) as a rise in the price level that caused an excess demand for output
D) as a rightward shift of the aggregate demand curve
Correct Answer:
Verified
Correct Answer:
Verified
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