The Discovery and Dissemination of a New Cost-Saving Technology

Multiple Choice

The discovery and dissemination of a new cost-saving technology

A) is an example of a positive demand shock
B) would cause the long-run AS curve to shift leftward,thereby increasing both output and the price level
C) would increase firms' unit costs
D) would lead to an increase in output and a decrease in the price level
E) is an example of a negative supply shock