Which of the Following Causes a Leftward Shift in the Short-Run

question 64

Multiple Choice

Which of the following causes a leftward shift in the short-run aggregate supply curve?

• A) An increase of goods prices while nominal incomes are unchanged.
• B) An increase in nominal incomes (wages and salaries).
• C) An increase of full-employment real GDP.
• D) An increase of personal consumption expenditures while the price level is unchanged.
• E) An increase of personal consumption expenditures while full-employment real GDP is unchanged.

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Definitions:

P-value

The P-value is a statistical metric that helps determine the significance of the results from a hypothesis test, measuring the probability of observing the test results under the null hypothesis.

Average Amount

The sum of a set of values divided by the number of values, often used to describe the central tendency of a data set.

Sleep

A natural state involving mind and body where consciousness is altered, sensory activities are significantly reduced, and almost all voluntary muscles are inhibited.

Confidence Intervals

Ranges within which a population parameter is estimated to lie, with a certain level of confidence.