An increase in the price of energy would a- shift the short-run aggregate supply down/right b- shift the long-run aggregate supply curve to the right c- shift the long-run aggregate supply curve to the left d- shift the short-run aggregate supply up/left

An increase in the price of energy would a- shift the short-run aggregate supply down/right b- shift the long-run aggregate supply curve to the right c- shift the long-run aggregate supply curve to the left d- shift the short-run aggregate supply up/left

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter23: Aggregate Demand And Aggregate Supply

Section23.4: The Aggregate-supply Curve

Problem 4QQ

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Question

An increase in the price of energy would

a- shift the short-run aggregate supply down/right

b- shift the long-run aggregate supply curve to the right

c- shift the long-run aggregate supply curve to the left

d- shift the short-run aggregate supply up/left

Definition Definition Total supply of goods and services in an economy at a certain price level in a specific time period.

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