How rightward and a leftward shift of AD and SRAS affect general price level and real GDP?
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Which curve (AD or SRAS) will be affected and which direction (leftward or rightward) it will shift when the Congress increases the income tax?
Which curve (AD or SRAS) will be affected and which direction (leftward or rightward) it will shift when the Congress goes to war against Canada?
In the AD-SRAS-LRAS diagram, what does each curve represent, and what will shift each LEFTWARD?
AD:
SRAS:
LRAS:
Explain the relationship between the different slopes of the SRAS curve and Say's Law and the Keynesian perspective?
Graphically, demand-pull inflation is shown as a:
A. rightward shift of the AD curve along an upsloping AS curve.
B. leftward shift of the AS curve along a down-sloping AD curve.
C. leftward shift of AS curve along an upsloping AD curve.