How Are Prices and Output Affected When the Long-Run Aggregate

question 51

Multiple Choice

How are prices and output affected when the long-run aggregate supply curve shifts left?  

• A) Prices increase and output increases. 
• B) Prices decrease and output decreases. 
• C) Prices increase and output decreases. 
• D) Prices decrease and output increases.

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Definitions:

Sexualities

refers to the ways in which people experience and express themselves as sexual beings, which can include a wide range of identities, orientations, and practices.

Capitalism

An economic system grounded on the private ownership of the means of production.

Procreation

The biological process through which living organisms reproduce offspring.

Gay and Lesbians

Refers to individuals who identify as homosexual, emphasizing the diversity and cultural aspects of the gay and lesbian community.