Which of the Following Would Shift Long-Run Aggregate Supply to the Right

question 55

Multiple Choice

Which of the following would shift long-run aggregate supply to the right?

• A)increased immigration from abroad
• B)a decrease in the price of an imported natural resource
• C)opening the economy to international trade
• D)All of the above are correct.

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Definitions:

LIFO

Last In, First Out, an inventory valuation method where the latest items added to inventory are the first to be sold.

Cost of Goods Sold

Cost of Goods Sold (COGS) refers to the direct costs attributable to the production of the goods sold in a company.

Periodic Inventory System

An inventory accounting system where updates are made at intervals, such as monthly or annually, rather than continuously.

FIFO

"First In, First Out," an inventory valuation method where goods first acquired are the first sold or used, affecting cost of goods sold and inventory value.