Consider the AD/AS Model,and Suppose That the Economy Begins at Potential

question 50

Multiple Choice

Consider the AD/AS model,and suppose that the economy begins at potential output.The effect of a positive AS shock on real GDP will be reversed in the long run with a ________ shift in ________.

• A)rightward; AS
• B)rightward; AD
• C)leftward; AS
• D)leftward; AD
• E)leftward; Y*

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Definitions:

Buying Process

The series of steps a consumer goes through before, during, and after making a purchase, including recognition of need, information search, evaluation, and decision.

E-commerce

The buying and selling of goods and services over the internet, including the transfer of money and data to execute these transactions.

Social Commerce

A subset of electronic commerce that involves social media, online media that supports social interaction, and user contributions to assist online buying and selling of products and services.

Similar Life Experiences

Experiences that are alike or share common aspects, often bringing people together or influencing their perspectives.