-Refer to the Above Diagram

question 3

Multiple Choice

-Refer to the above diagram.If aggregate supply shifts from AS₁ to AS₂,then the price level will:

• A) increase and real domestic output will increase.
• B) decrease and real domestic output will increase.
• C) increase and real domestic output will decrease.
• D) decrease and real domestic output will decrease.

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Definitions:

Articles of Incorporation

The primary legal document used to establish a corporation, outlining basic information such as the corporation's name, purpose, and structure.

Letters Patent

A method of incorporating used in some jurisdictions in Canada whereby the government grants recognition to the company as a separate legal entity.

Nova Scotia

A province in Canada known for its maritime heritage and coastal beauty.

General Security Agreement

A legal document that secures the repayment of a loan or debt with the borrower's assets as collateral.