The Following Questions Refer to the Graph Below

question 95

Multiple Choice

The Following Questions Refer to the graph below.
-Which of the following could cause a shift in the supply curve from S to S¹? An increase in

• A)U.S.exports to Nigeria
• B)Nigerian exports to the U.S
• C)U.S.travelers to Nigeria
• D)All of the above
• E)None of the above

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Definitions:

Price Level

The overall level of prices for goods and services in an economy at a specific point in time.

Aggregate Supply Curve

Curve showing the level of real GDP produced at different price levels during a time period, ceteris paribus.

Maximum Output Level

The highest quantity of a good or service that can be produced efficiently with available resources and technology.

Profit Incentive

A profit incentive is a financial or material reward that motivates individuals or businesses to pursue certain actions or goals for economic gain.