Higher Resource Prices Shift the

question 285

Multiple Choice

Higher resource prices shift the

• A) long-run aggregate supply curve leftward, decreasing real GDP and increasing potential GDP.
• B) short-run aggregate supply curve leftward, raising the price level and decreasing potential GDP.
• C) short-run aggregate supply curve leftward, raising the price level and decreasing real GDP so it is less than potential GDP.
• D) short-run aggregate supply curve rightward, raising the price level and decreasing real GDP so it is less than potential GDP.

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Definitions:

Antifederalist Pamphlet

Publications produced by opponents of the ratification of the U.S. Constitution, arguing against the expansion of federal power and advocating for states' rights.

Constitution

A system of fundamental principles according to which a nation, state, corporation, or the like, is governed.

Judiciary Act of 1789

The Judiciary Act of 1789 was a landmark statute enacted by the first United States Congress that established the federal judiciary of the United States.