The Globalized AS/AD Curve Is the Standard AS/AD Model with an Added

question 119

Multiple Choice

The globalized AS/AD curve is the standard AS/AD model with an added:

• A)world demand curve.
• B)domestic supply curve.
• C)world supply curve.
• D)long-run aggregate supply curve.

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Definitions:

Efficiency Gains

Improvements in the production process that allow for a greater output of goods or services without an increase in input.

Deregulation

The process of removing government restrictions and regulations in industry to allow for more competition and efficiency in the market.

Communications Industry

A sector that encompasses companies and technologies involved in the transmission of information, including media, internet, telecommunications, and broadcasting.

Social Regulation

Rules designed to protect the health, safety, and welfare of the public, often including environmental and worker safety regulations.