A Negative Supply Shock Often Results In

question 46

Multiple Choice

A negative supply shock often results in:

• A) a leftward shift of the AD curve.
• B) an increase in the aggregate price level and a decrease in aggregate output.
• C) no change in the price level.
• D) a drop in the unemployment level.

---

Definitions:

Marketers

Professionals or organizations involved in promoting and selling products or services to consumers.

Biotechnology Firms

Companies that utilize biological processes, organisms, or systems to manufacture products or provide services.

License

A formal permission granted by an authority to an individual or organization to engage in a particular activity or to use a specific property.

Product Life Cycle

A theory detailing the lifecycle of a product, encompassing its introduction, progression, peak phase, and eventual reduction in market presence.