28) From question 27, if ELAC students travel to Mexico, what would happen in the AD/AS graph? A) AD shifts right B) AS shifts right C) AD shifts left D) AS shifts left 29) From question 28, if the U.s. dollar was replaced by the Euro as the Central Banks' currency for foreign reserves, what would happen in the AD/AS graph? A) AD shifts left B) AS shifts right C) AD shifts right D) AS shifts left A) recessionary gap B) stagflation C) inflationary gap D) full employment
Homework Answers
27.
B
Decrease in sales tax, will reduce the cost of production, it will cause AS to shift to the right.
28.
A
It will increase the AD and shifts to the right.
29.
B
30.
C
It will create inflationary gap.
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