Multiple Choice
Which of the following events would cause a long-run supply shock?
A) Refinery capacity in the United States drops permanently.
B) A new pest destroys much of the alfalfa crop in a given year.
C) The government spends less on infrastructure maintenance.
D) Housing prices fall.
Correct Answer:
Verified
Correct Answer:
Verified
Q17: The U.S. government cut the top corporate
Q18: Net exports is measured as:<br>A) exports minus
Q19: The government can boost the economy out
Q20: Stagflation is difficult to recover from because:<br>A)
Q21: Temporary supply shocks:<br>A) affect prices only.<br>B) shift
Q23: Which of the following scenarios would likely
Q24: The long-run aggregate supply curve will shift
Q25: An increase in the level of immigration
Q26: If the prices of goods and services
Q27: When the prices of final goods and