Suppose we observe that over the past two years New Zealand has seen higher inflation and higher output than what one wo

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Suppose we observe that over the past two years New Zealand has
seen higher inflation and higher output than what one would
reasonably believe to be their​ long-run equilibrium levels.
What can we conclude with confidence about the shocks that must
have happened in New Zealand over the past two​ years?
A.
It is possible that there were positive aggregate demand shocks
that the central bank of New Zealand has not fully offset
B.
None of these statements is correct
C.
New Zealand cannot have experienced any aggregate demand
shocks
D.
New Zealand cannot have experienced any aggregate supply
shocks
E.
It is possible that there was a mix of aggregate supply and
aggregate demand shocks and the central bank has exactly
neutralized all aggregate demand shocks