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Economics (AS & A Level) · Oct / Nov 2021 · Paper 33 · Question 28

9708Aggregate Demand and Aggregate Supply analysis

The diagram shows aggregate demand (AD) and aggregate supply (AS). There is a change from AD1 to AD2 and from AS1 to AS2. As a result, the equilibrium level of national income changes from:

  1. AY1 to Y3.
  2. BY1 to Y4.
  3. CY2 to Y3.
  4. DY2 to Y4.

As printed in the paper

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Correct answer: A. Y1 to Y3.

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