The Aggregate Supply Curve Would Shift Downward If

question 62

Multiple Choice

The aggregate supply curve would shift downward if

• A) unit costs increase due to an increase in output
• B) the wage rate increases
• C) good weather increases crop yields
• D) an increase in real GDP causes the price level to decrease
• E) an oil embargo causes world oil prices to rise

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Definitions:

Just World

The cognitive bias or belief that the world is fundamentally fair, leading individuals to rationalize an otherwise inexplicable injustice as deserved by the victim's actions.

Empathy Gap

The underestimation of other people’s experience of physical pain as well as the pain of social rejection.

Prosocial Video Game

A type of video game designed to encourage players to engage in behaviors that benefit others and promote positive social interactions.

Disgust

An emotional response of revulsion or strong disapproval aroused by something unpleasant or offensive.