A Negative Real Shock Causes the Long-Run Aggregate Supply Curve

question 319

Multiple Choice

A negative real shock causes the long-run aggregate supply curve to:

• A) shift outward.
• B) shift inward.
• C) become steeper.
• D) become flatter.

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Definitions:

Implied-In-Fact

A contract formed by non-verbal conduct, rather than explicit words, indicating that both parties intend to be bounded.

An Accounting

The process or act of maintaining financial records, summarizing transactions, and analyzing financial data to understand the financial status of an individual or organization.

Specific Performance

A legal remedy requiring a party to fulfill the exact terms of a contract, typically used when monetary damages are insufficient.

Duty of Notification

An agent’s obligation to inform the principal of the agent’s actions on the principal’s behalf and of all relevant information.