What term refers to a general right shift in the AS curve, meaning that the supply of all services and goods is increasing?
Explanation
Answer - B - Positive supply shock refers to a general right shift in the AS curve, meaning that the supply of all services and goods is increasing.
Key Takeaway: Positive supply shock generally occurs when an economy is experiencing overall growth or progress in regard to technology. Additionally, finding additional supplies of natural resources can also stimulate production, leading to positive supply shock. If the AS decreases, creating a leftward shift, a negative supply shock can occur.
