Use the Following to Answer Questions

question 66

Multiple Choice

Use the following to answer questions
Figure: Long-Run Aggregate Supply Curves
-(Figure: Long-Run Aggregate Supply Curves) Which of the following can explain the shift of the long-run aggregate supply curve from A to C in the figure?

• A) development of new technology
• B) an increase in the nation's factors of production
• C) negative supply shock
• D) increase in oil supply

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Definitions:

Common Stock

A type of equity security that represents ownership in a corporation, with rights to vote on corporate policy and receive dividends.

Cash

Liquid currency held by a business for transactions, operational expenses, and other immediate needs.

Journal Entries

The recording of financial transactions in a company's ledger, detailing the accounts affected and the amounts debited or credited.

Authorized

Refers to the official approval or permission for something, often used in the context of authorized shares in a corporation.