A major hurricane causes production problems in Gulf Coast region of the United States. This would cause
A) the short-run aggregate supply curve to shift to the left, but there would be no effect on the long-run aggregate supply curve.
B) the short-run aggregate supply curve to shift to the left, and the long-run aggregate supply curve would shift to the right.
C) both the short-run and the long-run aggregate supply curves to shift to the right in equal amounts.
D) both the short-run and the long-run aggregate supply curves to shift to the left, but the long-run aggregate supply curve would shift more than the short-run curve.
A
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a. the low opportunity cost of time discourages recycling b. Americans earn low incomes c. the price of land is relatively low d. the low wages in the repair industry encourages repairs e. of low productivity and high wages in the waste disposal industry
Civil law provides business with more certainty because it is based on precedent
a. True b. False
Monetary policy affects real GDP by.
A. Changing aggregate supply B. Creating budget surpluses C. Changing aggregate demand D. Creating budget deficit
When the marginal costs of adding workers to a firm are increasing, that firm is experiencing ______.
a. constant returns to scale b. average variable cost c. declining marginal utility d. diminishing returns of labor