If Technological Change Shifts the Long-Run Aggregate Supply Curve to the Right

question 160

Multiple Choice

If technological change shifts the long-run aggregate supply curve to the right, it will also do which of the following?

• A)It will shift the short-run Phillips curve and the long-run Phillips curve to the right.
• B)It will shift the short-run Phillips curve and the long-run Phillips curve to the left.
• C)It will shift the short-run aggregate supply curve to the right and the long-run Phillips curve to the left.
• D)It will shift the short-run aggregate supply curve to the right and leave the long-run Phillips curve unaffected.

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Definitions:

Social Factors

Environmental influences that affect an individual's lifestyle, behavior, and health, including family, community, and societal norms.

Economic Factors

Elements that influence the behavior of an economy, including inflation, employment rates, and growth rate.

Life Expectancy

The average period that an individual is expected to live based on demographic factors.

Health Expectancy

An estimate of how many years an individual can expect to live in a state of good health, taking into account current rates of morbidity and mortality.