Which of the Following Causes a Leftward Shift in the Short-Run

question 99

Multiple Choice

Which of the following causes a leftward shift in the short-run aggregate supply curve?

• A) An increase of goods prices while nominal incomes are unchanged.
• B) An increase in nominal incomes.
• C) An increase of full-employment real GDP.
• D) An increase of personal consumption expenditures while the price level is unchanged.

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Definitions:

Units of Inventory Purchased

The total quantity of items bought for resale or use in production during a specific period.

Accounts Payable

Liabilities of a company or organization for goods or services that have been received but not yet paid for.

Net Income

The final earnings of a company once expenses and taxes are subtracted from the total revenue.