____ are unexpected temporary events that can either increase or decrease short-run aggregate supply
a. Profit effects
b. Volatilities
c. Supply shocks
d. Misperception effects
c
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Which of the following is NOT one of the functions of money?
A) protection from increases in prices of goods and services B) store of value C) medium of exchange D) unit of accounting
You are the manager of a restaurant you believe one of your suppliers is engaged in cartel activity. As the manager, you ________ an incentive to report the behavior because your restaurant can ________.
A) do not have; have to pay whistle-blower fees B) do not have; receive treble damages C) have; have to pay whistle -blower fees D) have; receive treble damages
The cross elasticity between two goods, X and Y, is positive. From this, we can conclude that goods X and Y are:
a. substitute goods. b. complementary goods. c. unrelated goods. d. inferior goods. e. normal goods.
Since the demand for gasoline is relatively inelastic, a gas tax is largely borne by consumers.
Answer the following statement true (T) or false (F)