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Changes in Which of the Following Shifts the Aggregate Supply

question 1

Multiple Choice

Changes in which of the following shifts the aggregate supply curve?
i.The price level
ii.The money wage rate
iii.Potential GDP


Definitions:

Labour Costs

The total expenditure borne by employers for employing staff, including wages, benefits, and taxes.

Job Expansion

The process of making a job more varied by adding additional tasks or responsibilities to increase job satisfaction.

Pay Rates

Pay Rates are the amounts of money that individuals are compensated for their labor or services, usually expressed per hour, piece, or project.

Methods Time Measurement (MTM)

A predetermined motion time system that analyzes the motions involved in performing a task and sets standard times for tasks, facilitating efficient work processes and time management.

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