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Exhibit: AD-AS Shifts Starting from Long-Run Equilibrium at a with Output

Question 23

Multiple Choice

Exhibit: AD-AS Shifts Exhibit: AD-AS Shifts Starting from long-run equilibrium at A with output equal to and the price level equal to P<sub>1</sub>, a demand-pull inflation would be represented by a shift from: A) AD<sub>1</sub> to AD<sub>2.</sub> B) AD<sub>1</sub> to AD<sub>3.</sub> C) AS<sub>1</sub> to AS<sub>2.</sub> D) AS<sub>1</sub> to AS<sub>3.</sub> Starting from long-run equilibrium at A with output equal to Exhibit: AD-AS Shifts Starting from long-run equilibrium at A with output equal to and the price level equal to P<sub>1</sub>, a demand-pull inflation would be represented by a shift from: A) AD<sub>1</sub> to AD<sub>2.</sub> B) AD<sub>1</sub> to AD<sub>3.</sub> C) AS<sub>1</sub> to AS<sub>2.</sub> D) AS<sub>1</sub> to AS<sub>3.</sub> and the price level equal to P1, a demand-pull inflation would be represented by a shift from:


A) AD1 to AD2.
B) AD1 to AD3.
C) AS1 to AS2.
D) AS1 to AS3.

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