Business, 17.03.2020 05:50, Geo777

5. Shifts of the aggregate supply curve Which of the following would properly be classified as a favorable supply shock? There is an increase in government spending. There is a technological improvement that allows firms to reduce their costs of production permanently. The world price of oil increases rapidly without warning and is expected to remain at the new high level for many years, making it more expensive for all firms to produce goods and services.

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5. Shifts of the aggregate supply curve Which of the following would properly be classified as a fav...