Multiple Choice
Which of the following would shift the supply curve of Green Bay Packers football jerseys to the left?
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3. The Market Forces of Supply and Demand
Shifts in the Supply Curve
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Which of the following would most likely shift the aggregate supply curve?
A
Consumer preferences
B
Inputs such as wages or raw materials
C
Interest rates on consumer loans
D
Final goods and services
Verified step by step guidance1
Understand that the aggregate supply (AS) curve represents the total quantity of goods and services that producers in an economy are willing and able to supply at different price levels.
Recall that factors shifting the aggregate supply curve are typically related to changes in production costs or the availability of inputs, such as wages, raw materials, technology, or productivity.
Analyze each option: Consumer preferences and interest rates on consumer loans primarily affect aggregate demand, not aggregate supply.
Recognize that changes in inputs like wages or raw materials directly affect production costs, which can shift the aggregate supply curve either to the left (if costs increase) or to the right (if costs decrease).
Conclude that among the given options, 'Inputs such as wages or raw materials' is the factor most likely to shift the aggregate supply curve.
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