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Define for each scenario whether AD (Aggregate Demand) or AS (Aggregate Supply) will shift, and indicate...

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Economics

  1. Define for each scenario whether AD (Aggregate Demand) or AS(Aggregate Supply) will shift, and indicate if it will be anoutward shift (rightward) or inward shift (leftward).
  1. A fall in the price of oil
  2. A rise in consumer optimism
  3. A hurricane destroys factories in South Carolina
  4. Foreigners watch fewer U.S.-made movies
  5. New inventions occur at a faster pace
  6. A faster money growth

Answer & Explanation Solved by verified expert
3.7 Ratings (612 Votes)
A Rise in price of oil will reduce the demand of it It will cause movement along the demand curve Rise in price of oil induce producers to sell maximum of oil to earn maximum profits It will shift supply curve to its right B Rise in    See Answer
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