Refer to the Following Figure to Answer the Questions That

question 8

Multiple Choice

Refer to the following figure to answer the questions that follow.

-Based on the figure,which of the following would cause the short-run aggregate supply curve to shift from SRAS₁ to SRAS₂?

• A) Congress votes to increase the minimum wage.
• B) There is an increase in spending and firms respond by producing more output.
• C) Wages and input prices fall as the economy recovers from a recession.
• D) A severe drought reduces farm production.
• E) A temporary rise in the price of oil results in higher gasoline prices.

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Definitions:

Communication Channels

The mediums through which information is transmitted from one entity to another, including verbal, non-verbal, written, and digital forms.

Organization Chart

A diagram that displays the structure of an organization and the relationships and relative ranks of its parts and positions/jobs.

Scatter Diagram

Chart that plots discrete data points, with one variable along the x (horizontal) axis and another along the y (vertical) axis.

Bubble Diagrams

Visual tools that use bubbles or circles to represent ideas, tasks, or parts of a project, showing relationships and hierarchy.