The Aggregate Demand-Aggregate Supply Model
AP Macroeconomics · Flashcards · Application
AP MACROECONOMICS · FLASHCARDS
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QUESTION
Identify the result of a rightward shift in both AD and AS.
QUESTION
What happens to the equilibrium output when AS shifts left?
QUESTION
What happens to the equilibrium level when both AD and AS shift leftward?
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ANSWER
Output decreases; price level change ambiguous. Both demand and supply declining reduces output.
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