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:

Whales

Large marine mammals belonging to the order Cetacea, known for their intelligence and complex behaviors.

Marine Fish Species

Aquatic species that live predominantly in oceanic and sea environments.

Coastal Waters

The part of the ocean adjacent to the coast, within a certain distance, often characterized by shallow depths and significant influence from land.

Tragedy Of The Commons

A situation where individuals, acting independently according to their own self-interest, deplete or spoil shared resources, leading to long-term collective loss.