Which of the Following Would Cause a Decrease (Leftward Shift)

question 3

Multiple Choice

Which of the following would cause a decrease (leftward shift) in the short-run aggregate supply curve (SRAS) ?

• A) An increase in oil prices.
• B) An advance in technology.
• C) An increase in the CPI.
• D) An increase in the long-run aggregate supply curve (LRAS).

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Definitions:

Leisure Time

The period when a person is not engaged in work or essential activities, allowing for rest, recreation, or personal pursuits.

Studying

The act of devoting time and attention to gaining knowledge of an academic subject.

Costs

Expenses incurred in the production of goods or services, including materials, labor, and overhead.

Marginal Analysis

An examination of the benefits and costs of increasing or decreasing production or consumption by one unit.