FIGURE 23-2 Refer to Figure 23-2

question 16

Multiple Choice

FIGURE 23-2 Refer to Figure 23-2.Which of the following events could cause the upward shift of the AS curve?

• A)improvements in communications technology
• B)a decrease in business confidence that reduces desired investment
• C)a recession in the U.S.that reduces our net exports
• D)a major discovery of new oil reserves that will increase the world supply
• E)a massive drought that reduces agricultural output

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Definitions:

Geometric Progression

A sequence of numbers where each term after the first is found by multiplying the previous one by a fixed, non-zero number called the common ratio.

Arithmetic Progression

A sequence of numbers in which each term after the first is obtained by adding a constant, known as the common difference, to the preceding term.

Output Per Head

The average production of goods and services per individual in a specific period, typically used to measure labor productivity.

Accelerated

A process or rate that increases speed or velocity, often used in various contexts such as economic growth or depreciation.