Using the line drawing tool, show the effect of increased oil prices on the short-run aggregate supply curve. label your new line 'as2 carefully follow the instructions above, and only draw the required object. the primary factor that shifts the short-run aggregate supply curve is as1 2. changes in o a. govemment spending o b. the price level o c. production costs o d. monetary policy a. 0.s- 100 125 150 175 200 225 250 275 300 aggregate output, y

This problem has been solved! see the answerwhich of the following statements is correct? the consumer price index is a measure of the overall level of prices, whereas the gdp deflator is not a measure of the overall level of prices. if, in the year 2011, the consumer price index has a value of 123.50, then the inflation rate for 2011 must be 23.50 percent. compared to the gdp deflator, the consumer price index is the more common gauge of inflation. the consumer price index and the gdp deflator reflect the goods and services bought by consumers equally well.