The discovery of a large amount of previously-undiscovered oil in the U.S. would shift
a. the long-run aggregate-supply curve to the right.
b. the long-run aggregate-supply curve to the left.
c. the aggregate-demand curve to the left.
d. None of the above is correct.
a
You might also like to view...
A shortage is defined as the situation that exists when the quantity of a good supplied is greater than the quantity demanded
Indicate whether the statement is true or false
Discuss four problems with the CPI. Does the CPI tend to overestimate or underestimate the true inflation rate? How big is this bias?
What will be an ideal response?
A demand schedule shows the time over which different quantities will be demanded
a. True b. False Indicate whether the statement is true or false
Which factor receives the profit from production?
a. land b. labor c. capital d. entrepreneurship