Use the following diagram to answer the following questions.
-Refer to Diagram 14-2. In the above diagram, which of the following illustrates inflation caused by reduction in production of oil?
A) a shift in aggregate demand from AD₁ to AD₂.
B) a shift in aggregate demand from AD₂ to AD₁.
C) a shift in aggregate supply from AS₂ to AS₁.
D) a shift in aggregate supply from AS₁ to AS₂.
Correct Answer:
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