The Economy's AS Curve Will Shift Upward in the Short

question 47

Multiple Choice

The economy's AS curve will shift upward in the short run if there is

• A)an improvement in technology.
• B)a decrease in the cost of capital.
• C)an increase in the price level.
• D)a decrease in nominal wages.
• E)an increase in nominal wages.

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Definitions:

CISG

The United Nations Convention on Contracts for the International Sale of Goods, a treaty that provides a uniform framework for international commerce.

Express Contract

A contract in which the terms and conditions are clearly stated and agreed upon by all parties, either verbally or in writing.

Finders Fee

A commission paid to an intermediary or the facilitator of a transaction.

Essential Terms

Fundamental conditions and stipulations in a contract that are crucial for its validity and enforcement.