An Increase in Resources,efficiency,or Technology Will Shift The

question 33

Multiple Choice

An increase in resources,efficiency,or technology will shift the:

• A)short-run aggregate supply curve rightward.
• B)short-run aggregate supply curve leftward.
• C)long-run aggregate supply curve rightward.
• D)long-run aggregate supply curve leftward.

---

Definitions:

Consumer Income

Refers to the total earnings received by consumers, including wages, salaries, benefits, and any other income sources, influencing their purchasing power and spending behaviors.

Price Increase

A situation where the cost of goods or services rises over a period of time.

Supply Elasticity

Measures how the quantity supplied of a good responds to a change in the price of that good.