The long-run adjustment to a negative supply shock results in
A) the short-run aggregate supply curve shifting to the right.
B) the price level rising.
C) unemployment rising.
D) workers being willing to accept higher wages.
Answer: A
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In the United States, the ________ has the official responsibility for foreign exchange intervention
A) State Department B) International Trade Commission C) Department of Commerce D) Treasury Department
The Consumer Expenditure Survey measures
A) households' spending patterns. B) the wholesale price on what consumers buy so that a markup percentage can be found. C) the maximum price buyers will pay for a good or service. D) consumers' incomes. E) the jobs at which consumers work.
A tax meant to counter the effect of a negative externality is called:
A. an external tax. B. a social benefit tax. C. a Coase tax. D. a Pigovian tax.
When a tax is imposed on buyers, consumer surplus and producer surplus both decrease
a. True b. False Indicate whether the statement is true or false