An Increase in the Costs of Resources or Inputs of Production

question 35

Multiple Choice

An increase in the costs of resources or inputs of production would 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.

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Definitions:

National Origins Act

A United States federal law enacted in 1924, aimed at restricting immigration by establishing quotas based on national origins, significantly limiting immigration from certain regions.

Restrictive

Pertaining to policies, rules, or measures that limit or control actions, behaviors, or developments.

Anti-Foreign Sentiment

A prejudicial outlook or discrimination against foreigners, often resulting in hostility or unfavorable treatment towards people from other countries.

Economic Recovery

The process of overcoming a period of economic downturn or recession, characterised by a resurgence in business activity, employment, and output.