A year-long drought that destroys most wheat crops for the season would shift the:
A. short-run aggregate supply curve only.
B. aggregate demand curve only.
C. aggregate demand curve, and the short-run aggregate supply curve would shift in response.
D. short-run aggregate supply curve and the long-run aggregate supply curve.
Answer: A
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Refer to the information provided in Figure 1.7 below to answer the question(s) that follow.
Figure 1.7Refer to Figure 1.7. The slope of the line between Points A and B is
A. 1.5. B. 0.67. C. -0.67. D. -1.5.
What is the distribution of the world's population between the developed nations and developing nations? What is the distribution of income between these two groups and their consumption as a percentage of world income?
What will be an ideal response?
The market demand curve for a monopolist is typically
a. unit price elastic. b. downward sloping. c. horizontal. d. vertical.
Along the purely competitive firm's demand curve, average revenue is equal to marginal revenue.
Answer the following statement true (T) or false (F)