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

Question

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

Quizplus · Accepted Answer

The Answer of 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

Aggregate Demand and Supply Curves Have Been Widely Used to Analyze