Which of the Following Must Also Shift If the Long-Run

question 117

Multiple Choice

Which of the following must also shift if the long-run aggregate supply curve shifts?

• A) the aggregate production function or the aggregate demand curve
• B) the aggregate production function or the labor demand curve
• C) the aggregate demand curve and the short-run aggregate supply curve
• D) the aggregate demand curve and the labor supply curve

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Definitions:

Multiple Coefficient of Determination

A statistic that represents the proportion of variance in a dependent variable that is predictable from a set of independent variables.

Dependent Variable

The outcome variable in a study, experiment, or statistical model that is influenced or predicted by another variable (or variables).

Multiple Regression Model

An analysis technique in statistics that employs numerous independent variables to forecast the result of a target variable.

Coefficient of Determination

A statistical measure, often denoted as R^2, that represents the proportion of the variance for a dependent variable that's explained by an independent variable or variables in a regression model.