Technological Progress Shifts the Long-Run Aggregate Supply Curve to the Right

question 53

True/False

Technological progress shifts the long-run aggregate supply curve to the right.

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Definitions:

Fluid Intelligence

Aspects of intelligence involving abstract reasoning and mental flexibility, which peak in the early 20s and decline slowly as people age.

Cognitive Dissonance

A psychological phenomenon where a person experiences discomfort or distress due to holding conflicting beliefs, attitudes, or behaviors simultaneously.

Successful Aging

Maintaining one’s physical health, mental abilities, social competence, and overall satisfaction with life as one gets older.

Cognitive Functioning

Cognitive functioning refers to the mental processes involved in gaining knowledge and comprehension, including thinking, knowing, remembering, judging, and problem-solving.