If an Advance in Technology Shifts the Long-Run Aggregate Supply

question 106

Multiple Choice

If an advance in technology shifts the long-run aggregate supply curve outward:

• A) prices decrease and output increases.
• B) prices increase and output decreases.
• C) prices remain stable and output decreases.
• D) None of the answers is correct.

Apply formulas to compute ROI and interpret the results.

Grasp the concept and calculation of asset turnover.

Understand the relationship between profit margin, investment turnover, and ROI.

Comprehend the significance and calculation of residual income.

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Definitions:

Group Harmony

The state of agreement, peace, and solidarity within a group, achieved through understanding, cooperation, and the management of conflict.

Shared Environment

A shared environment refers to the environmental factors that are experienced by multiple individuals, such as family members, which can influence their development and behavior.

Personality Development

The process of forming and maturing one's personality through growth, experiences, and learning across the lifespan.

Behavioral-Genetics

The study of the role genetic and environmental factors play in shaping behaviors, traits, and abilities.