Which of the Following Would Cause a Decrease (Leftward Shift)

question 3

Multiple Choice

Which of the following would cause a decrease (leftward shift) in the short-run aggregate supply curve (SRAS) ?

• A) An increase in oil prices.
• B) An advance in technology.
• C) An increase in the CPI.
• D) An increase in the long-run aggregate supply curve (LRAS).

Identify and classify different types of costs in a manufacturing environment.

Differentiate between product costs and period costs.

Recognize direct materials, direct labor, and manufacturing overhead as components of product costs.

Distinguish between selling and administrative expenses and manufacturing costs.

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Definitions:

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a feeling of contempt for other cultures.

Internationalization

The process of increasing involvement of enterprises in international markets.

Exporting

The act of selling goods or services produced in one country to another country.

New Markets

Refers to previously unexplored or unengaged customer segments or geographic areas that a business aims to enter.