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
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The development of a new good or a new process for making a good is called
A) an innovation. B) a service. C) a factor of production. D) an invention.
The foreign freight forwarder is the largest export intermediary in terms of value and weight of products managed.
a. true b. false
If an oligopolistic industry organizes itself as a cooperative cartel, it will produce a quantity of output ________ the competitive level and ________ the monopoly level.
a. equal to, more than b. less than, more than c. less than, equal to d. more than, less than
Disembodied technical change results in
A. an increase in the labor supply. B. a change in the production process. C. embodied technical change. D. population growth.