Short-run aggregate supply curve does not shift

Reference no: EM133711163

Question: The Australian economy is initially in long-run equilibrium. Due to prolonged peace, the Federal Governments decides to cut its defence spending by $1 billion. In the short run: the aggregate demand curve shifts right and the short-run aggregate supply curve shifts left. the aggregate demand curve shifts right and the short-run aggregate supply curve does not shift. the aggregate demand curve shifts left and the short-run aggregate supply curve shifts right. the aggregate demand curve shifts left and the short-run aggregate supply curve shifts left. the aggregate demand curve shifts left and the short-run aggregate supply curve does not shift.

Reference no: EM133711163

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