Sia
Question
Statistics
Posted 8 months ago
Which of the following types of events shifts the short-run aggregate supply (SRAS) curve to the right?
Choose 1 answer:
(A) Any event that makes it less expensive or easier to produce goods and services
(B) Any event that causes consumers to purchase fewer goods and services that is not due to changes in the price level
(C) An increase in the price level in the short run.
(D) Any event that causes exports to decrease that is not due to changes in the price level
(E) Any event that makes it more expensive or more difficult to produce goods and services
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Answer from Sia
Posted 8 months ago
Solution by Steps
step 1
Identify the economic events that can shift the short-run aggregate supply (SRAS) curve to the right
step 2
Recognize that a rightward shift in the SRAS curve indicates an increase in the total quantity of goods and services that producers are willing and able to supply at each price level
step 3
Determine which of the given options would lead to an increase in production efficiency or a decrease in production costs, thereby increasing aggregate supply
Answer
The correct answer is the one that describes an event leading to increased production efficiency or reduced costs.
A
Key Concept
Shifts in the SRAS curve
Explanation
The SRAS curve shifts to the right when it becomes less expensive or easier for producers to supply goods and services, which is typically due to improvements in technology, reductions in the cost of inputs, or other factors that enhance production efficiency.
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