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

question 9

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

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Definitions:

Rivalry

The characteristic displayed by certain goods and services that consumption by one person precludes consumption by others.

Buys

The act of acquiring goods or services in exchange for money.

Product

Any good, service, or idea that can be offered to a market to satisfy a want or need.

Majority

Majority refers to more than half of a particular group or quantity, often used to describe the greater part of a population or collection.