Aggregate Supply Shocks Are

question 93

Multiple Choice

Aggregate supply shocks are:

• A)the result of monetary policy actions.
• B)the result of fiscal policy actions.
• C)the result of structural policy actions.
• D)inflation shocks or shocks to potential output.

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Definitions:

Opportunity Cost

The foregone benefit that would have been derived by an option not chosen.

Alternative Action

Potential different courses of action considered in a decision-making process.

Processed Further

A term used in cost accounting to describe materials or products that are subjected to additional operations or stages of processing beyond the initial production stage.

Relevant Costs

Expenses directly tied to a specific business decision, which should be considered when making that decision.