The Short Run Aggregate Supply (SRAS) Curve Shifts Left When

question 201

Multiple Choice

The short run aggregate supply (SRAS) curve shifts left when oil supply shocks occur because

• A) fewer goods are produced at any given price level due to higher oil prices.
• B) oil consumption will increase at any given price level.
• C) average total cost will fall at any given output level.
• D) the price level will fall at any given output level.

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