A Leftward Shift in the Short Run Aggregate Supply Curve

question 203

Multiple Choice

A leftward shift in the short run aggregate supply curve

• A) is the result of the Fed increasing the quantity of money.
• B) is the result of a rise in the price of a key resource.
• C) is the result of consumer expenditures exceeding available output.
• D) increases both the price level and real GDP.

---

Definitions:

Partnership Act

Legislation that outlines the rights and responsibilities of partners in a business partnership.

Profits

The financial gain realized when the revenue generated from business activities exceeds the expenses, taxes, and costs associated with sustaining the operations.

Carrying On Business

The ongoing conduct of commercial activities with some degree of regularity or continuity for profit.

Unlimited Liability

A legal structure in which owners and partners are personally and fully responsible for all the debts and liabilities of the business.