Use the following graph to answer the next question.A shift from AD2 shifts to AD1 would be consistent with what economic event in U.S. history?
A. cost-push inflation in the mid-1970s
B. Great Recession of 2007-2009
C. World War II in the 1940s
D. demand-pull inflation in the late 1960s
Answer: B
Economics
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The difference between price and average total cost is
A) total costs. B) marginal costs. C) average profit. D) an irrelevant quantity.
Economics
Double counting includes counting value of what types of goods?
a. Intermediate and Final b. Intermediate and investment goods c. Intermediate and capital goods d. Double counting does not include the counting of any goods only services.
Economics