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

question 10

Multiple Choice

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

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