An Unexpected Increase in the Price Level Does Not Shift

question 120

True/False

An unexpected increase in the price level does not shift the aggregate-supply curve, but an expected increase in the price level shifts the aggregate-supply curve to the left.

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Definitions:

Added Manpower

An increase in the number of workers or employees within an organization or project, typically aimed at enhancing productivity or meeting higher demands.

Final Surrender

The act of officially ending conflict by conceding defeat, often marked by the signing of a document or public declaration, signaling the cessation of hostilities.

Civil War

A war between citizens of the same country, famously referring to the American Civil War from 1861 to 1865, which was fought over the issues of states' rights and slavery.

April, 1865

A significant month during the American Civil War, marked by the surrender of Confederate General Robert E. Lee, effectively ending the war.