A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock.
B. long-run demand shock.
C. long-run supply shock.
D. short-run demand shock.
Answer: A
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A particularly severe recession is called a(n):
A. lull. B. growth recession. C. depression. D. super recession.
Which of the following program(s) is (are) in-kind assistance to fight poverty in the United States?
a. b and e. b. Medicaid. c. Unemployment benefits. d. Temporary Assistance to Needy Families (TANF). e. SNAP (food stamps).
The y-coordinate of an ordered pair specifies the
a. diagonal location of the point. b. vertical location of the point. c. horizontal location of the point. d. quadrant location in which the point is located.
Adverse aggregate supply shocks would result in:
A. A lower rate of inflation and a higher rate of unemployment B. A higher rate of inflation and a lower rate of unemployment C. A lower rate of inflation and a lower rate of unemployment D. A higher rate of inflation and a higher rate of unemployment