An Increase in Technology Will Shift the Long-Run Aggregate Supply

question 21

True/False

An increase in technology will shift the long-run aggregate supply curve to the left.

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Definitions:

Reject

To refuse to accept, submit to, believe, or make use of.

Cover

In legal and business contexts, the act of finding a substitute for goods or services when the original contract cannot be fulfilled.

UCC 2A-525(2)

A specific provision within the Uniform Commercial Code dealing with a lessee's right to cure nonconforming delivery in a lease contract.

Reclaim Goods

The process of taking back possession of sold goods by a seller under certain conditions, typically due to nonpayment or breach of contract.