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Requirement for the latest Aggregate Demand/Aggregate Supply Design
July 28th, 2022
Requirement for the latest Aggregate Demand/Aggregate Supply Design An alternative source of inflationary pressures can occur due to a rise in input prices that affects many or most firms across the economy-perhaps an important input to production like oil or labor-and causes the aggregate supply curve to shift back to the left. In [link] (b), the shift of the SRAS curve to the left also increases the price level from P0 at the original equilibrium (E0) to a higher price…