FIGURE 23-2 Refer to Figure 23-2

question 102

Multiple Choice

FIGURE 23-2 Refer to Figure 23-2.The shift from AS₁ to AS₂ shown in the diagram is referred to as a(n)

• A)increase in aggregate supply.
• B)increase in unit costs.
• C)negative aggregate supply shock.
• D)positive aggregate supply shock.
• E)decrease in unit costs.

---

Definitions:

Credited

Recognized or recorded as an increase in assets or a decrease in liabilities in accounting records.

Accrued Expense

Expenses that have been incurred but not yet paid, representing liabilities for goods or services received but not yet invoiced.

Recognising

The process of recording an item in the financial statements when it meets the criteria set by accounting standards.