In the Graph Shown, an Upward Shift in the WAS

question 57

Multiple Choice

In the graph shown, an upward shift in the WAS curve:

• A)raises domestic consumption, because domestic producers will produce more.
• B)lowers the trade deficit, because domestic producers are more competitive.
• C)lowers domestic production, because domestic consumption has fallen.
• D)raises globalized potential output, because U.S. producers are less competitive.

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Definitions:

Fundamentals

The basic or foundational principles or elements of a subject or discipline.

Off-the-job Training

A form of skill development and education that occurs outside of the normal work environment, often involving formal coursework or external training programs.

Management Development

A systematic approach to expanding the skills and capabilities of managers and potential managers within an organization.

Temporary Promotions

Short-term marketing strategies intended to boost product awareness or sales for a limited period.