A decrease in the price of resources will cause the AS curve to a. shift outward b. shift...

Question:

A decrease in the price of resources will cause the AS curve to

a. shift outward

b. shift inward

c. become flatter

d. become steeper

Aggregate Supply Curve:

Aggregate supply curve illustrates an association between the real Gross Domestic Product supplied and the price level. The aggregate supply curve is often categorized into short-run aggregate supply curve and long-run aggregate supply curve.

Answer and Explanation:

The answer to this question is:

a. shift outward

A decline in the price of resources such as labor and oil will result in an increase in the...

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Aggregate Supply Curve: Definition & Overview

from Intro to Business: Help and Review

Chapter 3 / Lesson 19
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