Figure 11.3: -Using Figure 11.3,a Shift in Aggregate Supply from AS₂ to from AS₂

question 45

Multiple Choice

Figure 11.3:
-Using Figure 11.3,a shift in aggregate supply from AS₂ to AS₁,ceteris paribus,is most likely to cause:

• A) A decrease in the price level,but no change in real output.
• B) A decrease in the price level and an increase in real output.
• C) An increase in the price level,but no change in real output.
• D) An increase in the price level and an increase in real output.

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Definitions:

Clayton Act

A law enacted in 1914 to promote competition and prevent monopolies and unfair business practices in the United States.

Antitrust Laws

Laws designed to promote competition and prevent monopolies by regulating business practices that may restrain trade or lead to an unfair concentration of market power.

Deceptive Advertising

Marketing practices that mislead or deceive consumers into believing something about a product or service that is not true or fully disclosed.

Celler-Kefauver Act

A United States antitrust law passed in 1950, aimed at preventing anti-competitive mergers and acquisitions by closing loopholes in the earlier Clayton Antitrust Act.