Economic Growth or Improved Technology Would Be Shown on an Aggregate

question 95

True/False

Economic growth or improved technology would be shown on an aggregate demand - aggregate supply diagram as an increase in AD,AS remaining constant.

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Definitions:

Gross Payroll

The total amount of money paid by a business to its employees before any deductions are made.

Social Security Rate

The percentage rate at which income is taxed to fund a country's social security system, which usually provides retirement, disability, and survivor benefits.

Unfunded Pension Liability

The gap between the pension benefits promised to employees and the actual amount of funds available to meet those obligations.

Long-term Liability

Financial obligations of a business that are due beyond the current fiscal year or operating cycle.