If oil prices decrease,
A) the short-run aggregate supply curve will shift down.
B) the long-run aggregate supply curve will shift to the left.
C) the short-run aggregate supply curve will shift up.
D) the long-run aggregate supply curve will shift to the right.
A
You might also like to view...
In the classical and monetarist aggregate demand curves:
a. money is the primary factor driving changes in aggregate demand. b. taxes can never shift aggregate demand. c. government spending can never shift aggregate demand. d. changes in aggregate demand drive most recessions. e. both a and d.
What is true at the profit-maximizing quantity for a nondiscriminating monopolist but not true of a perfectly competitive firm?
a. Price equals marginal cost. b. Price is greater than marginal cost. c. Marginal revenue equals marginal cost. d. Marginal revenue is less than marginal cost. e. Marginal revenue is greater than average revenue.