Exhibit 11-4
-The shift from AS to AS' in Exhibit 11-4 would occur when the actual price level is higher than expectations.

Name: Exhibit 11-4 -The shift from AS to AS' in Exhibit 11-4 would occur when the actual price level is higher than expectations.
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Question

Exhibit 11-4 
-The shift from AS to AS' in Exhibit 11-4 would occur when the actual price level is higher than expectations.

Quizplus · Accepted Answer

The shift from AS to AS' in Exhibit 11-4 would occur when there is a change in the factors of production, technology, or supply shocks, not necessarily related to the actual price level being higher than expectations.

Exhibit 11-4 -The Shift from AS to AS' in Exhibit 11-4 Would