Multiple Choice
Use the following graph to answer the next seven questions. The graph depicts an economy where aggregate demand and long-run aggregate supply (LRAS) have decreased, with no change in short-run aggregate supply (SRAS) .
-Which of the following would have caused aggregate demand to decrease in the graph,such as occurred during the Great Recession?
A) an increase in expected income
B) a decrease in tax rates
C) a decrease in housing prices and stock prices
D) an increase in consumer sentiment
E) an advance in technology
Correct Answer:
Verified
Correct Answer:
Verified
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