Assume an Economy Experiences an Increase in Productivity That Occurs

question 10

Multiple Choice

Assume an economy experiences an increase in productivity that occurs as a result of a more widespread implementation of a major technological breakthrough.Given this information,we would expect which of the following to occur?

• A)aggregate demand would not change
• B)aggregate demand would shift to the right
• C)aggregate demand would shift to the left
• D)both the aggregate demand and aggregate supply curves would shift to the left

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Definitions:

Judgmental

Characterized by forming opinions or conclusions about something or someone often based on subjective criteria rather than objective evidence.

Conscious Processes

Mental activities within an individual's awareness, allowing for perception, thinking, and direct control over actions.

Normal Adults

Adults who exhibit typical or average psychological development and functioning according to standardized norms.

Individual Differences

Variations among individuals in their qualities, abilities, and characteristics, making each person unique.