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Mulisa Lapane
on Nov 11, 2024

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Which of these is most likely to shift the long-run aggregate supply curve to the left?

A) An increase in the average workweek
B) An improvement in technology
C) A civil war
D) A decrease in aggregate demand
E) A decline in global oil prices

Long-Run Aggregate Supply Curve

A visual representation depicting an economy’s potential output when all resources are fully employed, irrespective of the overall price level.

Civil War

An armed conflict between organized groups within the same state or country, often aimed at controlling the government, territory, or policy.

Global Oil Prices

The fluctuating cost of crude oil on the international market, influenced by supply, demand, geopolitical events, and economic indicators.

  • Recognize the components that cause shifts and movements along the long-run aggregate supply curve.
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MP
Mabel PortaNov 14, 2024
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