When the housing bubble popped, the effect of the negative demand side shock and the negative supply side shock were the same on:
A. output, causing it to definitely decrease.
B. prices, causing them to definitely rise.
C. output, causing it to definitely increase.
D. prices, causing them to definitely fall.
Answer: A
Economics
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If the supply curves for the following goods were plotted, they all would slope upward except one. Which is the exception?
a. red Corvettes b. yogurt c. diamond rings d. original copies of the Mona Lisa e. wine from Greece
Economics
The concept of "random walk" applies most closely to predictions of
a. consumer demand for a product after a price increase. b. the effects of a tax on the supply of oil. c. the effects of transfer payments on labor supply. d. the price of a particular stock one year from now.
Economics