A Country's Long-Run Aggregate Supply Curve Will Shift to the Left

question 57

Multiple Choice

A country's long-run aggregate supply curve will shift to the left when there is (are)

• A) fewer regulatory impediments to business.
• B) a discovery of new oil reserves in that country.
• C) a reduction in the labor force.
• D) a reduction in the money supply.

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Definitions:

Volcanic Domes

Rounded, bulbous formations of lava that accumulate near and around volcanic vents, often resulting from the slow extrusion of viscous lava.

Volcanic Glass

A type of rock that forms from the rapid cooling of magma without crystallization, resulting in a smooth, glassy texture.

Volcanic Dome

A rounded mound formed by the slow extrusion of viscous lava from a volcano.

Composite Volcanoes

Composite volcanoes, also known as stratovolcanoes, are tall, conical volcanoes built up by many layers (strata) of hardened lava, tephra, pumice, and volcanic ash.