Match the cases with the movements in the graph based on the STATIC AD and AS model shown below. Price level (GDP deflat

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Match The Cases With The Movements In The Graph Based On The Static Ad And As Model Shown Below Price Level Gdp Deflat 1 (37.58 KiB) Viewed 38 times

Match the cases with the movements in the graph based on the STATIC AD and AS model shown below. Price level (GDP deflator. LRAS 2000 - 100) SRAS, SRAS AD AD , Real GDP (trillions of 2000 dollars) Assume the economy is at Equilibrium C. Canada, one of the main trading A. AD1 to AD2 partners of the US, enters an economic recession B. SRAS1 to SRAS2 Assume the economy is at Equilibrium A. Due to international traveling C. AD2 to AD1 restrictions, Americans decide to spend more money traveling domestically than visiting other countries. D.SRAS2 to SRAS1 Assume the economy is at Equilibrium c. A large oil reservoir is discovered off the coast of Alaska, decreasing fuel prices. Assume the economy is at Equilibrium A. Average weekly working hours from have drop from 48 to 40 as people decide to spend less time on work and more time with friends and family D. Assume the economy is at Equilibrium D. The economy now self-corrects to a long-run macroeconomic equilibrium.