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If the Production Possibilities Curve Shifts Outward, the Long-Run Aggregate

question 31

True/False

If the production possibilities curve shifts outward, the long-run aggregate supply curve will shift rightward.


Definitions:

Exempt Activities

Actions or operations that are not subject to certain regulations, restrictions, or legal requirements, usually due to their nature or context.

Resale Price Maintenance

A practice where manufacturers or suppliers dictate the minimum price at which retailers can sell their products, often scrutinized under competition laws.

Refusal to Supply

An act whereby a business decides not to sell or provide goods or services to another business or individual.

Competition Act

Legislation aimed at promoting fair competition in the market by regulating anti-competitive practices.

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