Examlex
Which of these would NOT cause a shift in the short-run aggregate supply curve?
Production Possibilities Curve
A graphical representation showing the maximum number of goods or services that can be produced with a fixed amount of resources.
Scarcity
The fundamental economic problem of having seemingly unlimited human wants in a world of limited resources, leading to the necessity of making choices.
Production Possibilities Curve
A graph that depicts the maximum possible output combinations of two goods that can be produced with available resources and technology, illustrating opportunity costs.
Production Possibilities Curve
A graphical representation that shows the maximum quantity of one good that can be produced for each possible quantity of another good produced, assuming all resources are fully and efficiently utilized.
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