Which of the Following Is Correct If There Is an Adverse

question 4

Multiple Choice

Which of the following is correct if there is an adverse supply shock?

• A)The short-run aggregate supply curve and the short-run Phillips curve both shift right.
• B)The short-run aggregate supply curve and the short-run Phillips curve both shift left.
• C)The short-run aggregate supply curve shifts right and the short-run Phillips curve shifts left.
• D)The short-run aggregate supply curve shifts left and the short-run Phillips curve shifts right.

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Definitions:

Lack

A deficiency or absence of something needed, desired, or customary, often leading to challenges or limitations.

Brand

A unique design, sign, symbol, words, or a combination of these, employed in creating an image that identifies a product and differentiates it from its competitors.

Marketing Mix

A combination of factors that can be controlled by a company to influence consumers to purchase its products, typically including product, price, place, and promotion.

Interconnected Nature

The state of being connected with each other, highlighting the relationships and dependencies among elements within a system.