Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen asĀ 

A. long-run aggregate supply shifting leftward
B. Short-run aggregate supply shifting upward
C. Short-run aggregate supply shifting downward
D. Aggregate demand shifting leftward

Answer: B

Economics

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As national income rises,

A) water problems are eliminated. B) infant mortality falls. C) emissions from fossil fuels decrease. D) depletion of forest reserves increases at an increasing rate.

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As large-scale production became more profitable during the Industrial Revolution, the easiest way to finance the required factories and heavy machinery was

a. sole proprietorships b. limited liability partnerships c. letting government take over d. the corporate structure e. family businesses

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