Suppose That Real Domestic Output in an Economy Is 20

question 22

Multiple Choice

Suppose that real domestic output in an economy is 20 units,the quantity of inputs is 10,and the price of each input is $4.Answer the following question on the basis of this information. Refer to the information.Given an increase in input price from $4 to $6,we would expect the aggregate:

• A) supply curve to shift to the left.
• B) supply curve to shift to the right.
• C) demand curve to shift to the left.
• D) supply and demand curves to both remain unchanged.

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Definitions:

Rational-Emotive

A cognitive-behavioral approach to psychotherapy that focuses on resolving emotional and behavioral problems by challenging and changing irrational thoughts.

Activating Event

An initial occurrence or situation that triggers a psychological or emotional response.

Antecedent

An event or environment condition that precedes and triggers a behavior or response.

Ellis's ABC

A cognitive-behavioral therapy model developed by Albert Ellis, focusing on the relationship between beliefs (B), consequences (C), and activating events (A).