What happens when there is a sudden increment or decline in the supply of a specific product which affects equilibrium?

a. Capital flight
b. Economic equilibrium
c. Elasticity of supply
d. Supply shock

Ans: d. Supply shock

Economics

You might also like to view...

Under the IMF fixed exchange rate system, a nation running a balance of payments surplus would have an excess __________ its currency in the foreign exchange market and that nation's central bank would have to __________ some of its currency

A) supply of; buy B) supply of; sell C) demand for; buy D) demand for; sell

Economics

Discouraged workers are people who want to work but have given up trying to find a job after an unsuccessful search

a. True b. False Indicate whether the statement is true or false

Economics