If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock.
B. long-run supply shock.
C. long-run demand shock.
D. short-run demand shock.
Answer: B
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Variable spending arising as part of the operation and maintenance of abatement processes is known as
a. capital costs b. operating costs c. fixed costs d. implicit costs
Referring to the graph above, an economic variable that had peaked in December 1912, November 1914, and February 1918 is likely a ________ variable
A) leading countercyclical B) leading procyclical C) lagging countercyclical D) lagging procyclical E) none of the above
The largest share of federal government tax receipts is derived from
A) corporate income taxes. B) excise taxes. C) social insurance contributions. D) individual income taxes.
All of the following are most likely to be fixed costs EXCEPT the cost relating to
A. rent. B. insurance. C. taxes. D. packaging.