A Leftward Shift in the Aggregate Supply Curve

question 331

Multiple Choice

A leftward shift in the aggregate supply curve

• A) increases both the price level and real GDP.
• B) occurs when consumer expenditures exceed available output.
• C) occurs when the price of a key resource rises.
• D) occurs when the Fed increases the quantity of money.

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Definitions:

Strong Superego

Indicates a highly developed part of the personality that is responsible for maintaining moral standards and conscience.

Weak Id

A Freudian concept that suggests an underdeveloped or inefficient id, leading to poor impulse control and difficulty satisfying basic desires.

Weak Ego

A condition characterized by a lack of self-esteem and inability to cope with demands, leading to poor decision-making.

Strong Id

A term that might refer to an individual with a dominant id according to Freudian psychology, characterized by impulsive and unconscious desires.