Figure 35-9

question 43

Multiple Choice

Figure 35-9.The left-hand graph shows a short-run aggregate-supply (SRAS) curve and two aggregate-demand (AD) curves.On the right-hand diagram,"Inf Rate" means "Inflation Rate."
-Refer to Figure 35-9.A significant increase in the world price of oil could explain

• A)the shift of the aggregate-supply curve from AS₁ to AS₂,but it could not explain the shift of the Phillips curve from PC₁ to PC₂.
• B)the shift of the Phillips curve from PC₁ to PC₂,but it could not explain the shift of the aggregate-supply curve from AS₁ to AS₂.
• C)both the shift of the aggregate-supply curve from AS₁ to AS₂ and the shift of the Phillips curve from PC₁ to PC₂.
• D)neither the shift of the aggregate-supply curve from AS₁ to AS₂ nor the shift of the Phillips curve from PC₁ to PC₂.

Understand the informational value of an income statement to business users.

Describe the four primary financial statements for a corporation.

Calculate financial ratios and analyze changes in financial position.

Understand the concepts and characteristics of financial reporting (timeliness, understandability, comparability, verifiability).

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Definitions:

Racial Discrimination

Unfair treatment of individuals based on their race, which can manifest in societal, economic, or personal interactions.

Economics of Sport

The study of how economic factors influence sports, including the financial aspects of sports teams, events, and the impact on local and global economies.

Stereotyping

The act of assigning a fixed, generalized attribute or assumption to individuals based solely on their membership in a particular social or demographic group.

Social Categorization

The process of sorting people into groups on the basis of characteristics they have in common (e.g., race, gender, age, religion, sexual orientation).