An Increase in the Expected Price Level Shifts the

question 20

Multiple Choice

An increase in the expected price level shifts the

• A)short-run and long-run aggregate supply curves left.
• B)the short-run but not the long-run aggregate supply curve left.
• C)the long-run but not the short-run aggregate supply curve left.
• D)neither the long-run nor the short-run aggregate supply curve left.

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Definitions:

Pith

The central core of tissue in the stems of many vascular plants, often used for storage and transport of nutrients.

Photosynthesis

The process by which green plants and certain other organisms transform light energy into chemical energy.

Conduction

The process through which heat or electricity is directly transmitted through a substance when there is a difference of temperature or of electrical potential.

Cork Cambium

A layer of tissue in plants that produces cork cells to form bark and protect the plant.