A Rightward Shift in the Economy's AS Curve Implies That

question 10

Multiple Choice

A rightward shift in the economy's AS curve implies that

• A)at any given price level,a lower level of output will be supplied.
• B)at any given price level,a higher level of output will be supplied.
• C)there is a decrease in aggregate supply.
• D)there is a demand shock.
• E)the same output will be produced,but only at a higher price level.

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Definitions:

Probability

The quantification of the probability that an event will take place, expressed as a number from 0 to 1, with 0 signifying that the event cannot occur and 1 signifying absolute certainty of occurrence.

Defects

Imperfections or faults in a product, process, or system that deviate from desired specifications.

Fabric

A material made by weaving, knitting, pressing, or bonding that may be used in the production of clothing, household items, and other goods.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values deviate from the mean.