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If SRAS shifts left but LRAS remains constant, are the following statements likely to be true? Select the best answer.
Statement 1: The Inflation rate goes up.
Statement 2: The unemployment rate drops.
Answer 2 Points
O Statement 1 is likely to be true but not Statement 2.
O Statement 2 is likely to be true but not Statement 1.
O Statements 1 and 2 are both likely to be true.
Neither Statement 1 nor Statement 2 is likely to be true.

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