Which of the Following Will Most Likely Cause an Increase

question 68

Multiple Choice

Which of the following will most likely cause an increase in the long-run aggregate supply curve?

• A) a reduction in the general level of prices
• B) an increase in the general level of prices
• C) an improvement in technology that substantially reduces the cost of generating energy
• D) an increase in taxes that makes it more expensive for Americans to import crude oil

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Definitions:

Collective Goods

Benefits or goods that are shared and cannot be denied to anyone within a community or society, such as clean air or public safety.

Membership Association

An organization founded and funded by members who share a common interest or goal, offering various benefits to members such as resources, networking opportunities, and advocacy.

Collective Good

A collective good, also known as a public good, is something that benefits all members of a community or society and is not diminished by individual use.

National Defense

The policies and actions taken by a country to protect itself against external threats.