Technological Advances Lead to ________

question 22

Multiple Choice

Technological advances lead to ________.

• A)a shift of the short run AS curve up
• B)a shift of the long run AS curve to the left
• C)an upward movement along the long run AS curve
• D)all of the above
• E)none of the above

---

Definitions:

Tariffs

Taxes imposed on imported goods to increase their price and protect domestic industries.

Fair Market Value

The price that a property would sell for on the open market, between a willing buyer and a willing seller, each with reasonable knowledge of the pertinent facts.

Protectionism

A government policy aimed at restricting international trade to protect domestic industries from foreign competition by imposing tariffs or quotas on imports.

Outsourcing of Jobs

The practice of hiring external firms or individuals to perform tasks, handle operations or provide services that are either difficult to manage or are outside the company's core competencies.