In the Aggregate Demand-Aggregate Supply Model, Everything Else Remaining Unchanged

question 23

Multiple Choice

In the aggregate demand-aggregate supply model, everything else remaining unchanged, a decrease in labor force shifts the____ to the_______ .

• A)long-run aggregate supply; right
• B)aggregate demand; right
• C)short-run aggregate supply; left
• D)aggregate demand; left

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Definitions:

Long-term Liabilities

Financial obligations of a business that are due more than one year in the future, such as bonds payable or long-term loans.

Current Liabilities

Liabilities that a company is obligated to pay within one year or within its normal operating cycle if longer.

Statement of Owner's Equity

A financial statement detailing the changes in owners' equity over a specific period, including contributions, withdrawals, and the effect of the net income or loss.