nl T-Mobile Wi-Fi 8:46 AM 31%LO,+ mathxl.com ECN203-Fall 2017 Online Nick Test:

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nl T-Mobile Wi-Fi 8:46 AM 31%LO,+ mathxl.com ECN203-Fall 2017 Online Nick Test: Final Exam This Question: 1 pt 43 of 88 (48 complete) Issues and Applications, Gauging Financial Sources of Aggregate Demand Shocks Consider the figure below which shows the VIX Index of financial-market volatility since 1990 Recession 1902 "004 1006 2002 2004 a06 2000 2010 2012 20 During the summer of 2011, a leftward movement along the short-run aggregate supply curve was caused when A. long-run aggregate supply shifted to the left. O B. long-run aggregate supply shifted to the right O C. aggregate demand shifted to the right. O D. aggregate demand shifted to the left.

Explanation / Answer

The correct answer is D. This is during a recession time and so this will be caused by a lack of demand and so the AD curve must have shifted left. The correct answer is D.

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