What Happens If Technological Change Occurs in the Economy

question 61

Multiple Choice

What happens if technological change occurs in the economy?

• A)The long-run aggregate supply curve will shift to the left.
• B)The long-run aggregate supply curve will shift to the right.
• C)The economy will move up along the long-run aggregate supply curve.
• D)The economy will move down along the long-run aggregate supply curve.

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Definitions:

Beliefs

Cognitive representations about the world, oneself, or others, that are accepted by an individual as true or existing.

Evolutionary Psychology

A theoretical approach in the social and natural sciences that examines psychological structure from a modern evolutionary perspective.

Cognitive Strategies

Techniques or methods that individuals use to process information more effectively, enhance memory, and solve problems.

Natural Environment

The physical world that includes all living and non-living things occurring naturally on Earth, outside of human creations or modifications.