Consider the Basic AD/AS Model

question 48

Multiple Choice

Consider the basic AD/AS model.If there is a decrease in the cost of non-labour inputs to production,the result will be to

• A)shift the AD curve to the left.
• B)shift the AD curve to the right.
• C)shift the AS curve to the left.
• D)shift the AS curve to the right.
• E)cause a movement to the left along the AS curve.

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Definitions:

Incentives And Competition

are motivational constructs that aim to enhance performance or productivity by offering rewards for achieving specific goals or by fostering a competitive environment.

Double-loop Learning

is a concept where learning involves questioning and adjusting one's underlying assumptions and beliefs, not just actions.

Single-loop Learning

A process of learning that focuses on using feedback to make minor adjustments and corrections without questioning or altering the underlying policies or objectives.

Team Longevity

The duration for which a team has been together, affecting its cohesion, effectiveness, and performance.