Multiple Choice
Which of the following changes best represents the effect on the U.S.of the oil embargo (a shut-off of oil from certain OPEC countries) of the 1970s?
A) a leftward shift of the aggregate supply curve
B) a rightward shift of the aggregate supply curve
C) a leftward shift of the aggregate demand curve and the aggregate supply curve
D) a rightward shift of both the aggregate demand curve and the aggregate supply curve
E) a change in the aggregate supply curve from a line with an upward slope to a vertical line
Correct Answer:
Verified
Correct Answer:
Verified
Q23: As a contractionary gap is closed in
Q26: If the price level turns out to
Q27: Exhibit 10-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4914/.jpg" alt="Exhibit 10-2
Q29: During recessions,workers resist efforts to reduce nominal
Q30: If the expected price level exceeds the
Q31: Exhibit 10-8 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4914/.jpg" alt="Exhibit 10-8
Q32: Given the aggregate demand curve,a beneficial supply
Q33: An increase in short-run aggregate supply that
Q40: Wage rates are typically flexible upward but
Q135: In constructing the short-run aggregate supply curve,we