A change in weather patterns that makes farming more difficult would ____

a) decrease long-run aggregate supply.
b) increase long-run aggregate supply.
c) increase aggregate demand.
d) have no impact on long-run aggregate supply.


Ans: a) decrease long-run aggregate supply.

Economics

You might also like to view...

Refer to the above figures. Which panel represents the expected relationship between tax revenue and the sales tax rate if static tax analysis is used?

A) Panel 1 B) Panel 2 C) Panel 3 D) Panel 4

Economics

The inflation index that is most favored by economists is the

a. Consumer Price Index. b. GDP Implicit Price Defoliator. c. Producer Price Index. d. Commodity Price Index.

Economics

If a hurricane were to wipe out the majority of the eastern seaboard in the United States:

A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.

Economics

All of the following are non-price determinants of demand EXCEPT

A. number of consumers. B. price of raw materials used in production of the good. C. income. D. price of related goods.

Economics