The Aggregate Supply Curve Can Shift Because of Any of the Following

question 33

Multiple Choice

The aggregate supply curve can shift because of any of the following except

• A)changes in labour.
• B)changes in technology.
• C)increases in income tax.
• D)the availability of natural resources.

Understand the dynamics of demand forecasting for seasonal products.

Analyze cost components in sales and operations planning.

Calculate the optimal workforce levels based on seasonal demand.

Evaluate the effectiveness of promotional strategies in different demand periods.

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Definitions:

Government-mandated Increase

A requirement imposed by the government that results in a rise, often relating to wages, prices, or taxes.

Demand and Supply Curves

Graphs used in economics to illustrate the relationship between how much of a good or service is desired by buyers (demand) and how much is available from suppliers (supply) at various prices.

Product Market

A market in which products are sold by firms and bought by households.

Equilibrium

A state in which market supply and demand balance each other, and, as a result, prices become stable.