If, as a result of climate change, half the production of citrus fruits in U.S. is...

If, as a result of climate change, half the production of citrus fruits in U.S. is destroyed, which curve will shift to which direction?

		the AD curve shifts the right
		the AD curve shifts to the left
		the AS curve shifts to the left
		the AS curve shifts to the right

Solutions

Expert Solution

Aggregate supply curve reflects the total quantity of goods and services that produced and sells by firms in an economy.

Aggregate demand curve reflects the total spending on goods and services in an economy.

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If as a result of climate change, half the production of citrus fruits in US destroyed, then there will be reduction in goods and service sold by firms. It is reflected by a leftward shift of the aggregate supply (AS) curve.

Hence, the AS curve will shift to the left.

Answer: Option (C) i.e., AS curve shifts to the left

Rahul Sunny answered 1 year ago

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