Which of the Following Shifts Both the Short-Run and the Long-Run

question 181

Multiple Choice

Which of the following shifts both the short-run and the long-run aggregate supply right?

• A)an increase in the actual price level
• B)an increase in the expected price level
• C)an increase in the capital stock
• D)an increase in money supply

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Definitions:

American Institute of Certified Public Accountants

A national professional organization for Certified Public Accountants (CPAs) in the United States, focused on setting ethical standards and auditing procedures.

GAAS

Stands for Generally Accepted Auditing Standards, which are the guidelines auditors follow to ensure their audits are conducted objectively and consistently.

Privity or Near-Privity Rule

A legal principle requiring a close, direct relationship between the parties involved in a contract for a third party to have the right to sue.

Third Party Liability

Legal responsibility that arises when a third party is held liable for damages or injury caused to another, often seen in insurance contexts.