Which of the following would cause a decrease (leftward shift) in the short-run aggregate supply curve (SRAS)?
a. An increase in oil prices.
b. An advance in technology
c. An increase in the CPI.
d. An increase in the long-run aggregate supply curve (LRAS).
a
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Refer to Figure 24-4. In the figure above, AD1, LRAS1 and SRAS1 denote AD, LRAS and SRAS in year 1, while AD2, LRAS2 and SRAS2 denote AD, LRAS and SRAS in year 2
Given the economy is at point A in year 1, what is the actual growth rate in GDP in year 2? A) 2.5% B) 7.3% C) 8.0% D) 10.0%
As a group, oligopolists would always be better off if they would act collectively
a. as if they were each seeking to maximize their own individual profits. b. in a manner that would prohibit collusive agreements. c. as a single monopolist. d. as a single perfectly competitive firm.
The Dow Jones Industrial Average has been computed regularly since
a. 1976. b. 1948. c. 1913. d. 1896.
Decision making "at the margin" means making a choice based on __________ of a decision
A) the total benefits B) the total costs C) comparing the total benefits and costs D) comparing the additional benefits and costs