A Rightward Shift in the Economy's AS Curve Implies That

question 10

Multiple Choice

A rightward shift in the economy's AS curve implies that

• A)at any given price level,a lower level of output will be supplied.
• B)at any given price level,a higher level of output will be supplied.
• C)there is a decrease in aggregate supply.
• D)there is a demand shock.
• E)the same output will be produced,but only at a higher price level.

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Definitions:

Cochlea

The cochlea is a spiral-shaped, fluid-filled structure in the inner ear that is responsible for converting sound vibrations into nerve impulses.

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A statistical relationship where two variables move in relation to each other.

Grade-Point Average

A numerical calculation that represents the average of all final grades earned in courses over time, often used as a measure of academic achievement.