An increase in oil prices is considered a supply shock because it would lead to a shift of the aggregate supply curve
a. True
b. False
A
Economics
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An increase in the money supply will lead to an increase in equilibrium real GDP only if:
a. the aggregate demand curve is horizontal. b. the aggregate supply curve is vertical. c. the investment function is horizontal. d. the aggregate supply curve is not vertical. e. the investment function is upward-sloping.
Economics
Double-digit inflation
a. has occurred in the United States in only three of the past fifty years b. has occurred throughout most of United States history c. is also called creeping inflation d. was the norm in the United States until the end of the Vietnam War e. has not occurred in the United States since the Great Depression
Economics