A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock.
B. long-run demand shock.
C. long-run supply shock.
D. short-run demand shock.
Answer: A
Economics
You might also like to view...
How does a government-sponsored good differ from a public good?
What will be an ideal response?
Economics
A tax wedge:
A. refers to the difference in the price the buyer pays and the price the seller keeps. B. only occurs in markets when the tax is placed on sellers. C. only occurs in markets when the tax is placed on buyers. D. only occurs in markets when taxes are placed on large corporations.
Economics