When Production Costs Rise

question 96

Multiple Choice

When production costs rise,

• A)the short-run aggregate supply curve shifts to the right.
• B)the short-run aggregate supply curve shifts to the left.
• C)the aggregate demand curve shifts to the right.
• D)the aggregate demand curve shifts to the left.

Interpret the effects of specialized interventions on IQ scores over time.

Grasp the various factors indicating test bias against specific groups.

Identify the correct format for representing page numbers in documents.

Understand various methods for creating or duplicating reports within a database environment.

---

Definitions:

Inferior Goods

Goods whose demand decreases when consumers' income increases. They are the opposite of normal goods, which see increased demand with higher income.

Income Increase

A rise in the amount of money received, especially by workers or businesses, over a specific period.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good consumers are willing to buy.

Substitute

a product or service that can be used in place of another to satisfy similar needs or desires.