Other Things Being Equal,the Economy's AS Curve Will Shift Downward

question 57

Multiple Choice

Other things being equal,the economy's AS curve will shift downward if there is

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

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Definitions:

Estimated Revenues

Projections of the amount of money a business expects to receive from its activities or sales within a specific period.

Cost-to-Cost Method

A method used in accounting for long-term contracts where revenue is recognized based on the percentage of project completion, estimated by comparing the costs incurred to the total expected costs.

Construction Contracts

Agreements between parties for executing construction projects, detailing scope, budget, and timeline.

Construction in Progress

An accounting term for the financial balance of ongoing, unfinished construction projects, which is a non-depreciable asset on the balance sheet until the project is completed.