A Leftward Shift of the AS Curve Indicates

question 64

Multiple Choice

A leftward shift of the AS curve indicates:

• A)a decrease in aggregate supply.
• B)an increase in aggregate supply.
• C)a decrease in potential GDP.
• D)an increase in potential GDP.

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Definitions:

Likert Scale

A psychometric scale commonly involved in research that employs questionnaires, designed to gauge the attitude or response of a subject towards a set of criteria, using a linear scale.

Reliability

The degree to which an assessment tool produces stable and consistent results over multiple administrations or applications under the same conditions.

Validity

The extent to which a concept, conclusion, or measurement is well-founded and likely corresponds accurately to the real world.

100% Reliable

An absolute level of dependability and consistency in performance or outcome that is often considered unachievable in practice.