Multiple Choice
Assume that Macroland is a country that imports 70% of the inputs used in its production and 40% of the products consumed. It has an overall trade balance. Which event would cause Macroland's short-run aggregate supply curve to shift to the left?
A) an increase in the average education level of the labor force
B) a depreciation in the value of Macroland's currency
C) an increase in consumption taxes and a decrease in corporate income taxes
D) a surge in the value of stocks exchanged on Macroland's stock market
Correct Answer:
Verified
Correct Answer:
Verified
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