The AD-AS model predicts that,in a country whose net exports of energy are zero,a sudden increase in the price of oil will shift the ___________ curve ___________,resulting in a ___________ price level and ___________ output level in the short run.
A) SRAS;downwards,lower;higher
B) AD;to the left;lower;higher
C) SRAS;upwards;higher;higher
D) SRAS;upwards;higher;lower
E) LRAS;to the right;higher;lower
Correct Answer:
Verified
Q83: Some European countries such as Ireland have
Q84: Stagflation is a combination of
A) a recessionary
Q85: One reason why the AD-AS model became
Q86: The AD-AS model predicts that,in a country
Q87: According to the AD-AS model,the short-run impact
Q89: During a period of stagflation,
A) output falls
Q90: In the AD-AS model,stagflation does not persist,because
Q91: Starting from the initial long-run equilibrium at
Q92: If European countries such as Ireland are
Q93: 
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents