Exhibit 10-3 Aggregate Supply and Demand Curves the Shift

question 32

Multiple Choice

Exhibit 10-3 Aggregate supply and demand curves The shift from AS₁ to AS₂ in Exhibit 10-3 could be caused by a(n) :

• A)sudden increase in the price of oil.
• B)increase in input prices for most firms.
• C)increase in workers' wages.
• D)all of these.

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Definitions:

Maslow's Hierarchy

Maslow's Hierarchy is a psychological theory proposed by Abraham Maslow, depicting a five-tier model of human needs, arranged in a hierarchy where basic physiological and safety needs must be satisfied before individuals can fulfill higher-level needs like belonging and self-actualization.

Existence

The fact or state of living or having objective reality.

Relatedness

The need to establish and maintain emotional bonds and interpersonal connections with others.

Growth

The process of increasing in size, amount, value, or importance.