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Based on the figure above, suppose an increase in aggregate wealth shifts aggregate demand from AD1 ...

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Based on the figure above, suppose an increase in aggregate wealth shifts aggregate demand from AD1 ...

Based on the figure above, suppose an increase in aggregate wealth shifts aggregate demand from AD1 toAD2, and moves the economy beyond potential. If the economy is left to correct itself, full employment will be restored in the long run when
A) wages and input prices fall, and shift the aggregate supply curve downward.
B) aggregate demand decreases back to its original level.
C) contracts expire and workers and input suppliers demand higher wages and input prices, respectively.
D) potential GDP expands to $6 trillion.

Textbook

Introduction to Economic Reasoning

Edition: 8^th

Author: Rohlf

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sgy_89 Author

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Thanks for your help!!

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this is exactly what I needed

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