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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In the United States, the percentage of households that have incomes below the mean income is
A) 50 percent. B) less than 50 percent. C) more than 50 percent. D) 0 percent.
The position of a demand curve is unaffected by changes in the price of the good
a. True b. False Indicate whether the statement is true or false
A commercial bank has checkable-deposit liabilities of $500,000, reserves of $150,000, and a required reserve ratio of 20%. The amount by which a single commercial bank and the amount by which the banking system can increase loans are respectively
A. $100,000 and $500,000. B. $50,000 and $250,000. C. $50,000 and $500,000. D. $30,000 and $150,000.
Which of the following is not part of the investment component of GDP?
A. Residential construction B. Plant, equipment, and software C. Net imports D. Business structures