Refer to the Following Figure to Answer the Following Questions

question 24

Multiple Choice

Refer to the following figure to answer the following questions.
-Based on the figure,which of the following would cause the short-run aggregate supply curve to shift from SRAS₁ to SRAS₂?

• A) Congress votes to increase the minimum wage.
• B) There is an increase in spending and firms respond by producing more output.
• C) Wages and input prices fall as the economy recovers from a recession.
• D) A severe drought reduces farm production.
• E) A temporary rise in the price of oil results in higher gasoline prices.

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Definitions:

Supplement

A product taken orally that contains one or more ingredients (such as vitamins or amino acids) that are intended to supplement one's diet and are not considered food.

Unsaturated Fatty Acids

Fatty acids that contain one or more double bonds between carbon atoms, which can be healthier than saturated fats and found in oils from vegetables, nuts, and fish.

Monounsaturated Fats

A type of healthy fat found in various oils and nuts that can help to lower bad cholesterol levels.

Cholesterol

A waxy, fat-like substance found in all cells of the body, necessary for making hormones, vitamin D, and substances that help digest foods.