A Reduction in the Amount of Farmable Land Inside a Nation

question 167

Multiple Choice

A reduction in the amount of farmable land inside a nation would cause the:

• A) long-run aggregate supply curve to shift to the right.
• B) long-run aggregate supply curve to shift to the left.
• C) short-run aggregate supply curve to shift to the right.
• D) aggregate demand curve to shift to the right.

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Definitions:

Correlation Coefficient

A statistical measure that calculates the strength and direction of a linear relationship between two variables.

Prediction Of Y

An estimate or forecast of a future value or outcome, often based on analysis of variables or data trends.

Regression Weight

The coefficient representing the contribution of a predictor variable in a regression equation to predict the dependent variable.

Regression Equation

The regression equation is a mathematical formula used in linear regression to model the relationship between independent and dependent variables.