Question 6 1 pts Refer to the fgure to answer the following questions. PriceLRAS

Question

Question 6 1 pts Refer to the fgure to answer the following questions. PriceLRAS, LRAS, level SRAS 8 SRAS2 AD, Real GDP Based on the fhgure, which of the following would cause the short-run aggregate supply curve to shift from SRAS1 to SRAS2 Congress votes to increase the minimum wage. There is an increase in spending and firms respond by producing more output O Wages and input prices fall as the economy recovers from a recession .A severe drought reduces farm production A temporary rise in the price of oil results in higher gasoline prices MacBook Air

Explanation / Answer

Answer.)

Q6.) Wages and input prices fall as the economy recovers from a recession.

Q7.) B.) increases, an upward movement along

Q10.) C.) The government increases spending but does not increase taxes, and the size of the deficit increases.

Q11.) Eventually decreasing.

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