A temporary decrease in the price of oil would be considered a:
A. long-run supply shock.
B. demand shock.
C. short-run supply shock.
D. The changing price of oil would not affect any of these.
Answer: C
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In the Current Population Survey, a person is considered unemployed if the person
A) is without a job. B) is working anything less than 40 hours per week. C) is working without pay. D) does not have a job and is actively looking for a job. E) is working less than 20 hours per week.
Transfer payments have reduced poverty among the elderly, but poverty among females has not fallen
a. True b. False
The opportunity cost to you of an action is
a. how much you must pay for the opportunity to take the action. b. the value to you of the next best action you could have taken. c. the cost to society of giving you the opportunity to take the action. d. the dollar cost to you of the action.
At an annual interest rate of 10 percent, about how many years will it take $100 to triple in value?
a. 8 b. 10 c. 12 d. 14