]Which of the Following Describes What Would Happen After a Positive

question 101

Multiple Choice

]Which of the following describes what would happen after a positive supply shock such as a decrease in world oil prices?

• A) An upward shift of the aggregate supply curve as unit costs increase,followed by a gradual decrease in the wage as employment decreases,leading to a downward shift of the aggregate supply curve.
• B) A downward shift of the aggregate supply curve as unit costs decrease,followed by a gradual increase in the wage as employment increases,leading to an upward shift of the aggregate supply curve.
• C) An upward shift of the aggregate supply curve as unit costs increase,followed by a gradual decrease in the wage as employment decreases,leading to an upward shift of the aggregate supply curve.
• D) A downward shift of the aggregate supply curve as unit costs decrease,followed by a gradual decrease in the wage as employment decreases,leading to a downward shift of the aggregate supply curve.
• E) An upward shift of the aggregate demand curve.

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