An increase in the costs of production will cause the:
A. long-run aggregate supply curve to shift to the left.
B. aggregate demand curve to shift to the right.
C. short-run aggregate supply curve to shift to the left.
D. short-run aggregate supply curve to shift to the right.
Answer: C
You might also like to view...
Which of the following is a reason why firms can be more efficient than markets as coordinators of economic activity?
A) economies of scale and scope B) higher transactions charges C) elimination of the principal-agent problem D) all of the above
To identify the product market, antitrust agencies use
A) qualitative, but not quantitative tools. B) both qualitative and quantitative tools. C) quantitative, but not qualitative tools. D) territorial restrictions
If a country experiences a relatively high inflation rate compared with other economies, then the demand for its currency will _________________.
a. increase b. stabilize c. flatten d. lessen
Which group of American-born workers is most affected by immigrants entering the U.S. labor force?
a. High school students b. Blue collar workers c. Skilled trades workers d. White collar workers