Higher Resource Prices Shift the

question 220

Multiple Choice

Higher resource prices shift the

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

---

Definitions:

Sensory Abilities

The capabilities associated with the senses, including sight, hearing, touch, taste, and smell, enabling perception of the environment.

Taste Preferences

Individual differences in the liking or disliking of certain foods or flavors, often influenced by genetic, cultural, and experiential factors.

Placenta

An organ that develops in the uterus during pregnancy, providing oxygen and nutrients to the growing baby while removing waste products from the baby's blood.

Socialization

The process by which individuals learn and adopt the norms, values, and behaviors appropriate to their society or social group.