Which of the following best describes the effect on the aggregate supply curve if political negotiations result in a substantial decrease in the price of oil?
A) There is no change to the AS curve.
B) The AS curve does not shift but there is a downward movement along it.
C) The AS curve shifts leftward.
D) The AS curve does not shift but there is an upward movement along it.
E) The AS curve shifts rightward.
E
You might also like to view...
Refer to Figure 2-12. Which country has a comparative advantage in the production of honey?
A) They have equal productive abilities. B) Tahiti C) Bora Bora D) neither country
____________ were the most common form of specie used in the colonies
a. Coins issued by the English mint b. Coins issued by the Spanish mint c. Coins issued by New England's mint d. Coins issued by privately-owned colonial mints
The U.S. military aircraft industry sought protection from foreign competition by using the __________ argument to persuade Congress to impose trade restrictions
a. infant industries b. diversity of industries c. retaliation d. antidumping e. national security
A monopolistically competitive firm produces where
A. marginal revenue equals price. B. marginal revenue equals marginal cost. C. its marginal revenue curve lies above its demand curve. D. its marginal revenue curve intersects the quantity axis.