If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected.
B. only the long-run aggregate supply curve would shift left.
C. only the short-run aggregate supply curve would shift left.
D. the long-run and short-run aggregate supply curves would both shift left.
Answer: D
Economics
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Indicate whether the statement is true or false
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An economist estimated the cross-price elasticity for peanut butter and jelly to be +1.5 . Based on this information, we know the goods are
a. inferior goods. b. complements. c. inelastic. d. substitutes.
Economics