Which of These Is Most Likely to Shift the Long-Run

question 93

Multiple Choice

Which of these is most likely to shift the long-run aggregate supply curve to the left?

• A)An increase in the average workweek
• B)An improvement in technology
• C)A civil war
• D)A decrease in aggregate demand
• E)A decline in global oil prices

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Definitions:

Money

A medium of exchange that is widely accepted in transactions for goods and services, acting as a unit of account, a store of value, and sometimes, a standard of deferred payment.

Compounding

A method in which an investment's worth grows over time as the returns, including both capital gains and interest, accumulate interest.

Compound Interest

The practice of charging interest on the principle amount along with the interest that has been piled up from past periods, relevant to both lending and saving scenarios.

Future Value

The value of a current asset or amount of money at a specified time in the future, accounting for interest or capital gains.