-From the Data in the Above Table, When the Economy

question 33

Multiple Choice

-From the data in the above table, when the economy is in short-run equilibrium, if aggregate demand does not change, then as time passes the

• A) short-run aggregate supply curve shifts rightward.
• B) short-run aggregate supply curve shifts leftward.
• C) long-run aggregate supply curve shifts rightward.
• D) long-run aggregate supply curve shifts leftward.

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Definitions:

Vehicle Operating Cost

Expenses associated with running a vehicle, including fuel, maintenance, repairs, and insurance.

Snow-Day

A day on which work or school is cancelled due to heavy snowfall or extreme winter weather conditions.

Planning Budget

A budget designed for a specific level of activity, used as a tool for planning and controlling costs.

Wages And Salaries

Payments made to employees for their labor or services, either hourly (wages) or fixed over a time period (salaries).