According to the IS-MP-PC Model, a Decrease in the Long-Run

question 15

Multiple Choice

According to the IS-MP-PC model, a decrease in the long-run level of output causes

• A)an upward shift of the AS curve.
• B)an upward shift of the AD curve.
• C)a downward shift of the AS curve.
• D)none of the above.

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Definitions:

Delegation Of Duties

The assignment of responsibility or authority from one person to another person to carry out specific activities.

Detrimental Reliance

The situation where an individual suffers a loss as a result of relying on a promise or statement made by another, which was later retracted or proved false.

Assignment

The transfer of rights, duties, or benefits from one party to another in a contract or agreement.

Contractor

An individual or company hired to perform work or provide services for another entity under terms specified in a contract.