Suppose there is a temporary supply shock because of a war in the Middle East, then ________
A) this would constitute a cost push shock due to a restriction in the supply of oil
B) the AS curve would shift to the left
C) this could theoretically lead to stagflation
D) all of the above
E) none of the above
D
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Derivatives can be used to reduce risk, but they also can be a source of risk in themselves.
Answer the following statement true (T) or false (F)
Absolute poverty measures vary from country to country. For example, in 2015, the poverty line in the United States for a family of four with two children
was an annual income of $24,250 but economists often use a much lower threshold income of $1 per day when calculating the rate of poverty in poor countries. How is this absolute poverty measured? A) by comparing the amount of goods and services that a household's income can purchase in one country to the amount of goods and services that a household's income can purchase in another country of comparable living standard B) by comparing the amount of goods and services that a household's income can purchase to an objective measure of the amount of income needed to sustain a certain predetermined standard of living C) by comparing the percentage of households living below the poverty line to the total population D) by comparing a household's income to the income required to maintain the average standard of living in a society at a particular time
If Wrex can produce more math problems per hour and more book reports per hour than Maxine can, then Wrex cannot gain from trading math problems and book reports with Maxine
a. True b. False Indicate whether the statement is true or false
Members of the EU (European Union):
A) have virtually eliminated all trade barriers within the community. B) have increased trade restrictions among them. C) have made it more difficult to trade with each other. D) no longer trade with North America.