Refer to the Graph $A D _ { 1 } \text { to } A D _ { 2 }$

question 55

Multiple Choice

Refer to the graph. Economic growth driven by productivity and technology would be illustrated as a shift of

• A) \(A D _ { 1 } \text { to } A D _ { 2 }\)
• B) \(P _ { 1 } \text { to } P _ { 2 }\)
• C) \(\mathrm { AS } _ { 2 } \text { to } \mathrm { AS } _ { 1 }\)
• D) \(\mathrm { AS } _ { \mathrm { LR } 1 } \text { to } \mathrm { AS } _ { \mathrm { LR } 2 }\)

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Definitions:

Contract

A pact among two or more parties that holds legal force and is binding.

Duty

An obligation or responsibility imposed by law, moral guidelines, or codes of conduct that requires a person or entity to act or refrain from acting in a certain way.

Assignable

Capable of being transferred from one party to another, typically referring to rights or property.

Delegating Duties

The process of assigning responsibility and authority to another person to carry out specific activities, while the original person remains accountable for the outcome.