If the Full-Employment Quantity of Labor Increases, Then the

question 39

Multiple Choice

If the full-employment quantity of labor increases, then the

• A) LAS curve shifts rightward and the SAS curve does not shift.
• B) SAS curve shifts rightward and the LAS curve does not shift.
• C) SAS curve shifts rightward and the LAS curve shifts rightward.
• D) SAS curve shifts rightward and the LAS curve shifts leftward.

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Definitions:

Uncollectible Accounts

Accounts receivable that a company does not expect to collect and thus writes off as a loss.

Accounting Convention

Accepted accounting principles that guide the reporting and financial presentation of a company's accounts.

Qualitative Characteristics

Attributes that enhance the usefulness of financial information, including understandability, relevance, reliability, and comparability.

GAAP Constraints

Limitations or guidelines in Generally Accepted Accounting Principles that direct the application of accounting procedures.