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:

Continental Drift

The movement of the Earth’s crust by plate tectonics, resulting in the movement of continents with respect to one another.

Glossopteris

An extinct genus of seed fern that serves as evidence for the theory of continental drift and once thrived in the supercontinent Gondwana.

Archaeopteryx

An extinct genus of bird-like dinosaurs that is considered by many to be the earliest known bird, illustrating the transition between non-avian dinosaurs and birds.

Homologous Structures

Anatomical features in different species that share a common ancestral origin despite possibly serving different functions.