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.
Answer: D
You might also like to view...
The marginal rate of substitution is: a. the total amount a consumer is willing to trade to get another good
b. the rate at which the consumer is willing to trade one good to gain one more unit of another good. c. is reflected by the slope of the indifference curve. d. characterized by both b. and c.
Consider the accompanying payoff matrix.
If Row Resorts offers reduced rates, then Column Cruises would receive the highest payoff if it:
A. kept its rates high. B. choose either strategy because it will have the same payoff in either case. C. entered into a cartel with Row Resorts and agreed to jointly reduce rates. D. offered reduced its rates.
An example of a tax that is generally regarded to be progressive is
A. the federal income tax. B. the excise tax on gasoline. C. the state sales tax. D. the payroll tax.
Which of the following are in place when government imposes limits on or requires approvals for payments related to some (or all) international financial investment activities?
A. Adjustable pegs B. Official interventions C. Capital controls D. Exchange controls