The figure given below depicts the long run equilibrium in an economy. Figure 14.1 In the figure: AD₁ and AD₂: Aggregate demand curves AS₁ and AS₂: Aggregate supply curves Refer to Figure 14.1.Movement from point A to point C is equivalent to: A)a movement up the long-run Phillips curve. B)an outward shift of the short-run Phillips curve. C)a movement up the short-run Phillips curve. D)an inward shift of the long-run Phillips curve. E)a movement down the long-run Phillips curve.

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The Answer of The figure given below depicts the long run equilibrium in an economy. Figure 14.1 In the figure: AD₁ and AD₂: Aggregate demand curves AS₁ and AS₂: Aggregate supply curves Refer to Figure 14.1.Movement from point A to point C is equivalent to: A)a movement up the long-run Phillips curve. B)an outward shift of the short-run Phillips curve. C)a movement up the short-run Phillips curve. D)an inward shift of the long-run Phillips curve. E)a movement down the long-run Phillips curve.

The Figure Given Below Depicts the Long Run Equilibrium in an Economy