An Unexpected Event That Causes the Aggregate Demand Curve to Shift

question 357

Multiple Choice

An unexpected event that causes the aggregate demand curve to shift inward or outward is an

• A) aggregate demand shock.
• B) aggregate supply shock.
• C) aggregate supply increase.
• D) aggregate supply decrease.

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Definitions:

Balance Sheet

An account that consolidates the assets, liabilities, and shareholders' equity of a company, reflecting its financial status at a specific time.

Adjusted Trial Balance

A list of all accounts and their balances after adjustments have been made, used to prepare financial statements.

Total Assets

The sum of all assets owned by a company, including both current (short-term) and non-current (long-term) assets, representing the total resources at its disposal.

Income Statement

A document detailing a firm's incomes and expenditures within a certain timeframe, ultimately revealing the net profit or deficit for that interval.