The Long-Run Aggregate Supply Curve Shifts to the Right When

question 58

Multiple Choice

The long-run aggregate supply curve shifts to the right when there is

• A)a decrease in the total amount of capital in the economy.
• B)a decrease in the total amount of labor supplied in the economy.
• C)a decrease in the available technology.
• D)a decline in the natural rate of unemployment.

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Definitions:

Legislators

Elected officials responsible for making or amending laws within a government.

Food, Conservation, And Energy Act

A comprehensive farm bill that covers policies affecting food production, conservation measures, and energy consumption.

Wheat

A cereal grain that is a worldwide staple food, used for making products like bread, pasta, and pastry.

Direct Payments

Cash subsidies paid to farmers based on past production levels; a permanent transfer payment unaffected by current crop prices and current production.