AS Paper 2, June 2019The UK Economy – Performance and Policies
AS Paper 2, June 2019, Q4(b)
Annotate the diagram above to show the likely impact of government policy to promote business competition on the equilibrium level of real output and price level.
Short answerAnnotate2 marks
Context
The diagram below shows the aggregate demand (AD) and a possible long-run aggregate supply (LRAS) for the UK. Price LRAS level AD 0 Real output …
Original diagram required. See the original question paper for the diagram.