FIGURE 23-2 -Refer to Figure 23-2.Which of the Following Events Could Cause

question 100

Multiple Choice

FIGURE 23-2
-Refer to Figure 23-2.Which of the following events could cause the upward shift of the AS curve?

• A)a decrease in the price of raw materials
• B)a decrease in the world supply of oil as a result of a major hurricane
• C)improved quality of the national education system
• D)rapid technological advances in mass production
• E)an increase in consumption

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Definitions:

Negative Externality

A situation where the production or consumption of a good or service imposes a cost on third parties not directly involved in the transaction.

Noise Pollution

Unwanted or harmful outdoor sound, including industrial, transportation, and recreational noises, that can disrupt daily life and harm health.

Stock Externalities

Environmental consequences of economic actions that affect the value of stocks and investments, not originally accounted for in the stock market.

Incremental Results

Outcomes or changes that are achieved step by step or gradually.