Author Question: If the aggregate supply curve shifts leftward, then _____. a. the price level increases and output ... (Read 64 times)

cdr_15 · **on:** Jun 30, 2018

If the aggregate supply curve shifts leftward, then _____.
a. the price level increases and output increases
b. the resulting increase in the price level is usually called cost-push inflation
c. the resulting increase in the price level is usually called demand-pull inflation
d. the price level increases as long as the aggregate demand curve shifts rightward
e. the price level decreases and output increases

Question 2

The distribution of income in developed countries is less egalitarian than less developed countries.
a. True
b. False
Indicate whether the statement is true or false