Economic growth in India has averaged about 8.5 percent in recent years and while inflation averaged almost 9 percent. The AS-AD model shows this process as
A) rightward shifts in the short-run aggregate supply curve.
B) rightward shifts in the both the aggregate demand and long-run aggregate supply curves.
C) movements upward along the aggregate demand curve.
D) rightward shifts in the aggregate demand curve and leftward shifts in the short-run aggregate supply curve.
B
Economics
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A measure of growth in the standard of living is the growth in
A) population. B) real GDP minus the growth in population. C) real GDP. D) employment. E) population minus the growth in real GDP.
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If aggregate demand decreases while aggregate supply is stable, income will ________ and the unemployment rate will ________.
A. decrease; increase B. increase; decrease C. decrease; decrease D. increase; increase
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