If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock.
B. long-run supply shock.
C. long-run demand shock.
D. short-run demand shock.
Answer: B
You might also like to view...
How are scarcity, choice, and opportunity cost related?
What will be an ideal response?
Which of the following would cause the supply of dollars curve in the United States to shift to the right?
a. Japanese imports become less popular. b. The value of the dollar falls. c. The supply of dollars decreases. d. Japanese imports became more popular.
The labor-force participation rate equals the percentage of the labor force that is employed
a. True b. False Indicate whether the statement is true or false
Government spending programs that create jobs are often popular because
a. the created jobs are highly visible, while the secondary effects of lost jobs in other areas, higher interest rates, and higher future taxes are less visible. b. if a spending program is approved by Congress, it means that the value of what is produced is greater than the value of the resources used to produce it. c. the benefits of job creation are always greater than the costs. Jobs are the key to economic progress. d. when spending programs are funded by