If Technological Change Shifts the Long-Run Aggregate-Supply Curve to the Right

question 106

Multiple Choice

If technological change shifts the long-run aggregate-supply curve to the right, it will also do which of the following?

• A) It shifts both the short-run and long-run Phillips curves to the right.
• B) It shifts both the short-run and long-run Phillips curves to the left.
• C) It will shift the short-run aggregate-supply curve to the right and the long-run Phillips curve to the left.
• D) It will shift the short-run aggregate-supply curve to the right and leave the long-run Phillips curve unaffected.

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Definitions:

Emotions

Complex psychological states that involve a subjective experience, physiological response, and a behavioral or expressive response.

Universal

Applies or is relevant to all members within a group or category without exception; embracing or applicable in all cases.

Rational Choice Theory

A framework for understanding economic and societal behavior, positing that individuals act based on their preferences and rational calculations to maximize benefit or utility.

Interacting Individuals

Interacting individuals refer to the process where two or more people communicate or affect each other’s behavior and thoughts.