A Decrease in Aggregate Supply in the Short Run Is

question 4

Multiple Choice

A decrease in aggregate supply in the short run is

• A)reflected in a movement to the left along the AS curve.
• B)reflected in a shift to the right in the AS curve.
• C)interpreted to mean that less total output will be supplied at any given price level.
• D)caused by a decrease in the price level.
• E)caused by an increase in the price level.

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Definitions:

Sales Mix

The proportion of different products or services that make up a company's total sales.

Composite Mix

A method or strategy combining different products, services, or resources to achieve a desired outcome or performance in business.

Multiproduct Company

A business that produces and sells more than one type of product.

External Financial Reporting

The process of providing financial information to external users, such as investors or creditors, to help in decision-making.