A Supply Shock Causes the Long-Run Aggregate Supply Curve to Shift

question 211

True/False

A supply shock causes the long-run aggregate supply curve to shift left,decreasing the price level.

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Definitions:

Collective Action

The collaborative effort of a group to achieve a common objective or address a social or political issue.

Informal Groups

Informal groups are naturally formed social structures within an organization, based on personal relationships and shared interests, not defined by formal boundaries or roles.

Unofficial Groups

Informal groupings of individuals within an organization formed based on personal relationships rather than formal work assignments.

Emergent Groups

Groups that arise spontaneously based on shared interests or goals, often in response to specific situations or challenges.