Which of the Following Is Implied by a Leftward Shift

question 70

Multiple Choice

Which of the following is implied by a leftward shift in the economy's AS curve?

• A)There is an increase in aggregate supply.
• B)There is a demand shock.
• C)At any given price level,a lower level of output will be supplied.
• D)At any given price level,a higher level of output will be supplied.
• E)The same output will be produced in equilibrium,but at a lower price level.

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Definitions:

Government Bonds

Securities issued by a government to finance its expenditures, offering regular interest payments and the return of the original investment at maturity.

Demand Deposits

Bank accounts that allow the withdrawal of deposited money at any moment, without the need to notify the bank beforehand.

Loans

A sum of money that is borrowed, which is expected to be paid back with interest.

Bureau of Labor Statistics

A U.S. government agency that collects, processes, and disseminates essential statistical data related to labor market activity, working conditions, and price changes.