A Sudden Increase in Commodity Prices Will Lead to a Shift

question 133

Multiple Choice

A sudden increase in commodity prices will lead to a shift in the _____ curve to the _____,resulting in _____ aggregate _____.

• A) SRAS;right;higher;output
• B) AD;right;higher;prices
• C) SRAS;left;lower;output
• D) AD;left;lower;prices

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Definitions:

Carbon Dioxide

A transparent, unscented gas formed by the burning of organic substances and carbon, also released during breathing, and absorbed by plants in the photosynthesis process.

Earth's Atmosphere

The layer of gases surrounding Earth, retained by the planet's gravity, composed primarily of nitrogen and oxygen, and protecting life by absorbing ultraviolet solar radiation and reducing temperature extremes.

Ancient Society

Human societies that existed in a time period that could be considered ancient or prehistoric, often characterized by early developments in social organization, culture, and technology.

Continuous Matter

A classical concept describing matter as an infinitely divisible entity, unlike the quantum concept which describes matter in terms of discrete particles.