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.

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Definitions:

IFRS

International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB).

U.S. GAAP

United States Generally Accepted Accounting Principles, the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC) for financial reporting.

Common-Law Countries

Nations that operate under a legal system founded on case law and precedents rather than on codified laws; common examples include the United Kingdom, the United States, and Australia.

IFRS

International Financial Reporting Standards, a set of global accounting standards for financial reporting.