Which of the Following Would Not Shift the Aggregate Supply

question 57

Multiple Choice

Which of the following would not shift the aggregate supply curve?

• A)an increase in labour productivity
• B)a decline in the price of imported oil
• C)a decline in business taxes
• D)an increase in the price level
• E)a rise in wages

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Definitions:

Law of Demand

The law of demand states that, all else being equal, as the price of a good or service increases, consumer demand for the good or service will decrease, and vice versa.

Quantity Demanded

The complete volume of a particular good or service that purchasers are both eager and financially able to acquire at a certain price within a market.

Price Increases

Situations where the cost of goods or services rise, often reflecting inflation or increased production costs.

Cancer-Causing Particles

Substances or elements that, upon exposure, increase the risk of developing cancer in living tissues.