Which of the Following Could Be Expected to Shift the Short-Run

question 37

Multiple Choice

Which of the following could be expected to shift the short-run aggregate supply curve leftward?

• A)a new technology for creating cold fusion
• B)a discovery of new oil reserves
• C)a rise in the price of oil
• D)an increase in labour productivity

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Definitions:

Task Specialization

The process of dividing work into specific tasks that are assigned to individuals based on their skills or expertise.

Interdependence

The mutual reliance between two or more groups, organisms, systems, or entities where each is dependent on the others for certain needs.

Natural Processes

The organic and inherent procedures and events occurring in the environment and the physical world.

Unfavorable Norms

Social rules that are perceived negatively by society or certain groups, often because they lead to undesired outcomes.