An Increase in the Level of Prices of Goods and Services

question 83

Multiple Choice

An increase in the level of prices of goods and services will do what to the long-run aggregate supply curve?

• A)shift it to the right
• B)shift it to the left
• C)not shift the curve at all
• D)depends upon the long-run aggregate demand curve

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Definitions:

Ether

An organic compound characterized by an oxygen atom connected to two alkyl or aryl groups, with a general formula of R-O-R'.

Functional Group

Selected atom arrangements in molecules that are crucial for the unique chemical reactions those molecules perform.

Characteristic

A distinguishing feature or quality inherent to a substance, object, or individual.

Molecule

The smallest unit of a chemical compound that can retain the chemical properties of the compound, consisting of atoms held together by covalent bonds.