Which of the Following Is Correct If There Is a Favorable

question 33

Multiple Choice

Which of the following is correct if there is a favorable supply shock?

• A)the short-run aggregate supply curve and the short-run Phillips curve both shift right.
• B)the short-run aggregate supply curve and the short-run Phillips curve both shift left.
• C)the short-run aggregate supply curve shifts right and the short-run Phillips curve shifts left.
• D)the short-run aggregate supply curve shifts left and the short-run Phillips curve shifts right.

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Definitions:

Encumbrance System

A method or system for tracking claims, liens, or restrictions on property to ensure clear title or usage rights.

Purchase Order

An official document issued by a buyer committing to pay the seller for the sale of specific products or services to be delivered in the future.

Obligation Recorded

The accounting process of documenting a liability or duty to pay an amount as a result of a contractual agreement or other legal requirement.

Restricted Fund Method

An accounting method used for reporting restricted funds separately from unrestricted funds in nonprofit organizations' financial statements.