The Diagram Below Shows an AD/AS Model for a Hypothetical

question 29

Multiple Choice

The diagram below shows an AD/AS model for a hypothetical economy.The economy begins in long-run equilibrium at point A. FIGURE 24-4
-Refer to Figure 24-4.After the positive aggregate supply shock shown in the diagram,which of the following would shift the AS curve leftward during the economy's adjustment process?

• A)an increase in factor supplies
• B)an increase in the unemployment rate
• C)a decrease in wages and other factor prices
• D)an increase in labour productivity
• E)an increase in wages and other factor prices

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Definitions:

Conscious

The state of being awake and aware of one's surroundings and thoughts.

Explicit

Fully and clearly expressed or demonstrated, leaving nothing implied.

Repetition Priming

A cognitive phenomenon where the repeated presentation of a stimulus improves an individual's ability to respond to that stimulus.

Implicit Memory

A form of memory that occurs without conscious retrieval, affecting thoughts and behaviors based on previous experiences unconsciously.