According to Figure 17.7, improved management would most likely result in
A. A shift in the long-run aggregate supply from LRAS2 to LRAS1
B. A shift in the AD curve from AD1 to AD2.
C. A shift in the AD curve from AD2 to AD1.
D. A shift in the long-run aggregate supply from LRAS1 to LRAS2
Answer: D
You might also like to view...
If Libby can produce 20 gallons of beer or 5 gallons of wine per hour, her opportunity cost of one gallon of beer is 4 gallons of wine
Indicate whether the statement is true or false
The Organization of Petroleum Exporting Countries is an example of: a. a price leadership system
b. a trade group whose members have yet to influence the world price of oil, despite repeated attempts to collude. c. a successful monopoly. d. a periodically successful cartel.
A French import is a good
a. produced in France and sold to Britain b. used in the production of a French good c. produced in Britain d. consumed in Britain e. produced in Britain and sold to France
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.