which one illustrates an increase in aggregate supply ? and which one illustrates an increase in aggregate demand?
Homework Answers
Answer
graph 1 shows an increase in aggregate supply
The graph shows price on the vertical axis and the Y(output) on the
horizontal axis
A right shift in the AS curve increases the output supplied at each
level of prices, so the increase in AS is shown by graph 1 where
the AS shifts to the right
------------
graph 4 shows an increase in aggregate demand
the shift of AD curve to right shows the output aggregate demand is
increased at all level of prices as the horizontal axis values
increases at the given price levels.
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