Which of the Following Will Shift the Short-Run Aggregate Supply

question 255

Multiple Choice

Which of the following will shift the short-run aggregate supply curve to the left?

• A) an increase in the minimum wage
• B) a decrease in immigration from other countries
• C) a decrease in the price of oil
• D) a decrease in the actual price level

Analyze the relationship between disposable income, consumption, and saving.

Calculate saving levels at different points of disposable income.

Understand the concepts of Average Propensity to Save (APS), Average Propensity to Consume (APC), and Marginal Propensity to Save (MPS).

Determine the Marginal Propensity to Consume (MPC) from given consumption data.

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Definitions:

Island Arc

A curved chain of volcanic islands located along a subduction zone, formed by the rising magma from the descending tectonic plate.

Terranes

Distinct pieces of the crust that have been attached to a continent but originated elsewhere.

Sedimentary Unit

A sedimentary unit is a distinct layer of sedimentary rock with identifiable characteristics and depositional history, making it recognizable and distinguishable from other layers.

Intrusion

The forced entry of molten rock into or between other rock formations underground.