Which of the Following Most Likely Causes a Shift of the Long-Run

question 24

Multiple Choice

Which of the following most likely causes a shift of the long-run aggregate supply curve to the right?

• A) an increase in the money supply
• B) a decrease in tax revenues
• C) an increase in crop production due to more rainfall
• D) an increase in oil prices due to a fire in a major oil refinery

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Definitions:

Model Appropriate

Refers to the suitability of a statistical or mathematical model in accurately representing a real-world situation for analytical purposes.

Drop Height

The vertical distance through which an object is dropped or falls, often used in experiments to measure impact or velocity.

Bounce Height

The maximum height reached by an object after being dropped or thrown and rebounding off a surface.

Standard Deviation

A statistic that quantifies the dispersion or variability of a set of data points.