1.The Wall Street Journal reported that retail sales in March of 2020 fell by 8.7% - the largest one month drop in U.S. history.Before this happened, the economy was at point ___ on the graph on page 265.After that the economy moved towards point ____.This means that there are labor and capital _____ and ______ pressure on prices.

a.C; A; surpluses; downward

b.A; B; shortages; upward

c.A; C; surpluses; downward

d.A; C; shortages; downward

e.None of the above since we are now moving towards a point in the upper range of segment III of the aggregate supply curve.

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