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Author Question: An example of an aggregate supply shock is A) the cutoff of oil by the OPEC nations in the early ... (Read 32 times)

Zulu123

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on: Jun 30, 2018
An example of an aggregate supply shock is
 
  A) the cutoff of oil by the OPEC nations in the early 1970s.
  B) inflation caused by a surge in demand.
  C) the increase in the labor force due to the baby-boomer generation reaching working age.
  D) the increase in candy sales every February.

Question 2

Refer to the scenario above. Suppose Edwin consumes the total output produced. What is likely to happen in this case?
 
  A) GDP will remain unchanged. B) GDP will decrease.
  C) Trade surplus will increase by 200. D) GDP will increase.


joshbk44

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

A


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