An Increase in Inflation Will Cause the Long-Run Aggregate Supply

question 3

Multiple Choice

An increase in inflation will cause the long-run aggregate supply curve to:

• A) shift inward.
• B) shift outward.
• C) not shift at all.
• D) shift randomly.

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Definitions:

Total Ionic Equation

An equation that shows all of the ions in a solution as they realistically exist, used in the study of reactions in aqueous solutions.

Lead(II) Nitrate

A chemical compound with the formula Pb(NO3)2, used in making matches and special explosives, as well as in various industrial processes.

Potassium Bromide

A chemical compound with the formula KBr, commonly used in photography, as a medication, and as a laboratory reagent.

Saturated Solution

A solution containing the maximum concentration of a solute dissolved in a solvent at a given temperature and pressure.