An Increase in the Amount of Resources Would Shift the Long-Run

question 22

Multiple Choice

An increase in the amount of resources would shift the long-run aggregate supply curve:

• A)rightward.
• B)leftward.
• C)no shift.
• D)none of the above.

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Definitions:

Compounded Annually

Pertaining to an interest calculation method where interest is added to the principal at the end of each year, and future interest is calculated on the total.

Compounded Annually

An interest calculation method where interest is added to the principal sum once a year, allowing it to earn interest in the subsequent year.

Annuity

A finance tool that disburses a predetermined series of payments, typically to support individuals financially during retirement.

Future Value

The value of an asset or cash at a specified date in the future that is equivalent in value to a specified sum today.