Long-Run Aggregate Supply Increases as

question 42

Multiple Choice

Long-run aggregate supply increases as

• A) new production technology is introduced.
• B) the quality of labor declines.
• C) the average price level increases.
• D) natural resources deplete.
• E) corporate wage rates increase.

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Definitions:

FOB Destination

A shipping term indicating that the seller retains ownership and responsibility for goods until they are delivered to the buyer’s location, at which point the buyer takes ownership.

Sale Recorded

The process of documenting a sale transaction in the financial books of a company, recognizing revenue.

Deposits in Transit

Funds that have been received and recorded by a company but not yet by its bank.

Bank Reconciliation

Process of verifying the accuracy of both the bank statement and the cash accounts of a business.