Higher Resource Prices Shift the

question 352

Multiple Choice

Higher resource prices shift the

• A) short- run aggregate supply curve leftward, raising the price level and decreasing real GDP so it is less than potential GDP.
• B) short- run aggregate supply curve rightward, raising the price level and decreasing real GDP so it is less than potential GDP.
• C) long- run aggregate supply curve leftward, decreasing real GDP and increasing potential GDP.
• D) short- run aggregate supply curve leftward, raising the price level and decreasing potential GDP.

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Definitions:

Social Institutions

Established systems within a society that structure behavior and interactions according to collective goals and norms, such as family, education, religion, and the economy.

Gender Inequality

The social, economic, and cultural condition in which genders are not treated equally, leading to disparities in access, rights, and opportunities.

Self-Actualization

is the process of realizing and fulfilling one's potential and capabilities, often considered the highest stage of psychological development in Maslow's hierarchy of needs.

Societal Organization

The structured ways in which societies are organized around relationships of governance, production, distribution, and social interaction.