AS Paper 2, June 2018The UK Economy – Performance and Policies
AS Paper 2, June 2018, Q4(b)
Annotate the diagram above to show the likely impact of a rise in the cost of raw materials on the UK’s equilibrium level of real output and price level.
Short answerAnnotate2 marks
Context
The diagram below shows the aggregate demand (AD) and short-run aggregate supply (SRAS) for the UK. Price level SRAS P AD Y Real output …
Original diagram required. See the original question paper for the diagram.