What Causes the Long-Run Aggregate Supply Curve to Shift

question 55

Multiple Choice

What causes the long-run aggregate supply curve to shift?

• A)changes in the amount of labor
• B)changes in the amount of capital
• C)changes in technology
• D)All of the above are correct.

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Definitions:

U.S. Dollars

The official currency of the United States, widely used as a standard for international financial transactions.

Cost of Goods Sold

The costs directly linked to the manufacturing of products a company sells, which include both materials and labor.

First-In First-Out

An inventory valuation method where the first items produced or acquired are the first to be sold or used.

Temporal Method

A method for currency translation that uses exchange rates based on the time assets and liabilities were acquired or incurred.