In the Aggregate Demand/aggregate Supply Model, an Increase in a Country's

question 86

Multiple Choice

In the aggregate demand/aggregate supply model, an increase in a country's sustainable potential output is represented by

• A) an increase in aggregate demand.
• B) a decrease in aggregate demand.
• C) an increase in long-run aggregate supply.
• D) an increase in the general level of prices.

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Definitions:

Online Reverse Auctions

Digital marketplaces where suppliers bid to sell their goods or services to a buyer, with prices typically decreasing over time, often used to enhance competitiveness and reduce costs.

Competitive Supply Market

Refers to a market environment where multiple suppliers are competing to offer products or services, usually driving down prices and increasing quality.

Switch Suppliers

The process of changing from one supplier to another to improve service, reduce costs, or gain other advantages.

Pareto Analysis

A statistical technique in decision-making used for the selection of a limited number of tasks that produce significant overall effect. It uses the principle that 80% of results come from 20% of the actions.