A reduction in the amount of farmable land inside a nation would cause the:
A. short-run aggregate supply curve to shift to the right.
B. long-run aggregate supply curve to shift to the left.
C. long-run aggregate supply curve to shift to the right.
D. aggregate demand curve to shift to the right.
Answer: B
Economics
You might also like to view...
Investment is a smaller component of GDP than consumption, but it is a more stable component
Indicate whether the statement is true or false
Economics
The price elasticity of supply is equal to
A) the change in quantity supplied divided by the change in price. B) the percentage change in quantity supplied divided by the percentage change in price. C) the value of the slope of the supply curve. D) the percentage change in price divided by the percentage change in quantity supplied.
Economics