When the Short Run Aggregate Supply Curve Shifts Left, It

question 112

Multiple Choice

When the short run aggregate supply curve shifts left, it ___ the short-run Phillips curve.

• A)​Moves the economy up along
• B)​Moves the economy down along
• C)​Shifts right
• D)​Shifts left

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Definitions:

Intangible Assets

Non-physical assets owned by a business that have a value, such as patents, trademarks, and intellectual property.

Nonphysical Assets

Assets that do not have a physical form, such as patents, trademarks, and goodwill.

Competitive Advantages

Unique attributes or circumstances that give a business or product superiority over its competitors.

Plant Assets

Tangible assets used in the operation and production areas of a manufacturing company that have a useful life longer than one year.