Natural disasters (such as the 2011 earthquake and tsunami in Japan) are examples of an adverse supply shock, which result in the SRAS curve shifting leftward
Indicate whether the statement is true or false
True
You might also like to view...
What is the real GDP in year 1 using base year 1?
A) $418. B) $300. C) $360. D) $338.
If a good's demand function is Q = 30 - 3P, then calculate the price elasticity of demand when
a. good price is $3 using the point elasticity formula b. good price is $4 using the point elasticity formula c. good price decreases from $4 to $3, using the arc elasticity formula d. good price is $5, using the point elasticity formula e. good price increases from $4 to $5, using the arc elasticity formula
The conflict between the Vice President of Marketing and her sales staff arises because
a. the sales staff are too willing to offer discounts b. the sales staff does not want to negotiate aggressively enough c. the Vice President wants to negotiate too aggressively d. the Vice President is more willing to offer discounts to make the sale
Political instability is an impediment to development mainly because it:
A. undermines both domestic and foreign investment in a developing country. B. creates cultural and social differences among groups in developing countries. C. produces excessive levels of domestic saving. D. redistributes income.