Use the Following to Answer Questions

question 167

Multiple Choice

Use the following to answer questions:
Figure: AD-AS Model II
-(Figure: AD-AS Model II) Refer to Figure: AD-AS Model II. Which occurrence will raise the price level?

• A) SRAS curve shifts to the left.
• B) SRAS curve shifts to the right.
• C) AD curve shifts to the left.
• D) The economy moves down the aggregate demand curve.

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Definitions:

Properly Identified

Accurately recognized or distinguished from others based on specific characteristics or criteria.

Tender

To offer to turn goods over to a buyer.

Warehouse

A building or structure in which any goods, but particularly wares or merchandise, are stored.

C.O.D. Shipment

Cash on Delivery Shipment - A transaction in which payment for a good is made at the time of delivery rather than in advance.