Which of the Following Would Not Shift the Aggregate Supply

question 82

Multiple Choice

Which of the following would not shift the aggregate supply curve?

• A) an increase in labor productivity
• B) a decline in the price of imported oil
• C) a decline in business taxes
• D) an increase in the price level

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Definitions:

Output

The total amount of goods or services produced by a business, industry, or economy.

Production Function

A mathematical model that describes the relationship between input resources and the output of goods or services a firm can produce.

Isoquant

A curve that represents all the combinations of inputs that result in the production of a given level of output, showcasing the trade-off between different factors of production.

Output

The amount of goods or services produced by a company, industry, or economy within a specific period.