Refer to the information provided in Figure 11.4 below to answer the questions that follow. Figure 11.4
-Refer to Figure 11.4. Suppose the economy is at Point A, an oil price increase could move the economy to Point
A) E.
B) B.
C) C.
D) D.

Question

Refer to the information provided in Figure 11.4 below to answer the questions that follow.  Figure 11.4
-Refer to Figure 11.4. Suppose the economy is at Point A, an oil price increase could move the economy to Point
A) E. 
B) B. 
C) C. 
D) D.

Quizplus · Accepted Answer

An oil price increase would shift the aggregate supply curve to the left, moving the economy from Point A to Point E.

Refer to the Information Provided in Figure 11