Suppose That There Is an Adverse Supply Shock

question 173

Multiple Choice

Suppose that there is an adverse supply shock. Which of the following curves will shift left?

• A)both the aggregate supply curve and the Phillips curve
• B)only the aggregate supply curve
• C)only the Phillips curve
• D)neither the aggregate supply curve nor the Phillips curve

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Definitions:

Deviant Behavior

Actions or conduct that diverge from societal norms and expectations, often eliciting negative reactions from others.

Positivist Approach

An approach in sociology that beliefs social phenomena should be studied through observable, scientific methods to identify causal relationships and laws.

Constructionist Approach

A theoretical perspective that emphasizes the role of social constructs and interactions in the creation of reality and societal norms.

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The judicial system of the United States, including federal and state courts, responsible for interpreting and applying the law.