The SAS Curve Shifts Leftward If

question 70

Multiple Choice

The SAS curve shifts leftward if

• A) good weather increases agricultural harvests.
• B) OPEC reduces world oil prices.
• C) tax cuts stimulate labor supply.
• D) the money wage rate increases.

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Definitions:

U.S. Dollars

The official currency of the United States, commonly used as a basis for financial transactions and accounting records.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material, labor, and manufacturing overhead expenses.

Historical Rate

A reference to the exchange rate used in the past for converting one currency to another at a specific time.

Restated

Refers to financial statements that have been revised from their original figures to correct errors or account for retrospective changes in accounting policy.