If the Aggregate Supply Curve Shifts Leftward,then _____

question 47

Multiple Choice

If the aggregate supply curve shifts leftward,then _____.

• A)the price level increases and output increases
• B)the resulting increase in the price level is usually called cost-push inflation
• C)the resulting increase in the price level is usually called demand-pull inflation
• D)the price level increases as long as the aggregate demand curve shifts rightward
• E)the price level decreases and output increases

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Definitions:

Uncollectible Account Receivable

An accounting term for receivables from sales that are considered not collectible, resulting in a bad debt expense.

Uncollectible Accounts

Accounts receivable that a company does not expect to collect and thus writes off as a loss.

Direct Write-off Method

An accounting practice where uncollectable debts are written off against income at the time they are deemed non-collectable.

Allowance Method

An accounting technique that estimates uncollectible accounts receivable to record bad debts expense, reflecting more accurate accounts.