Try another version of these questions The graph below shows the AD-AS diagram for Spain. Suppose that the economy experiences a negative aggregate supply shock denoted by the move from SRAS1 to SRAS2. Note that the new curve is shown in gray.
What happened to the cyclical unemployment in Spain? Hint Box 1: Select the best answer What happened to the frictional unemployment in Spain? Hint Box 1: Select the best answer What happened to the structural unemployment in Spain? Hint Box 1: Select the best answer What happened to the price levels in Spain? Hint Box 1: Select the best answer