A year-long drought that destroys most wheat crops for the season would shift the:
A. short-run aggregate supply curve only.
B. aggregate demand curve only.
C. aggregate demand curve, and the short-run aggregate supply curve would shift in response.
D. short-run aggregate supply curve and the long-run aggregate supply curve.
Answer: A
You might also like to view...
Everything else remaining unchanged, what is likely to happen to the equilibrium real interest rate and quantity of credit if the credit supply curve shifts to the left?
A) Both equilibrium rate of interest and quantity of credit will increase. B) The equilibrium rate of interest will increase and the quantity of credit will decrease. C) Both equilibrium rate of interest and quantity of credit will decrease. D) The equilibrium rate of interest will decrease and the quantity of credit will increase.
If the number of unemployed workers is 200 million, and the number in the labor force is 500 million, what is the unemployment rate?
A) 0.4% B) 4% C) 14% D) 40%
Prices provide the rationing function best when
A) prices are flexible. B) prices are inflexible. C) they are used in conjunction with queuing. D) price controls are in place and ration coupons are used too.
In a hostile takeover,
a. existing management of the target company opposes the takeover b. management of the buying company opposes the takeover c. the government opposes the takeover d. stockholders of the target company oppose the takeover e. bondholders of the target company oppose the takeover