A positive temporary supply side shock will:
A. increase the level of potential output in the long run.
B. decrease the price level in the long run.
C. increase the price level in the long run.
D. have no effect in the long run.
Answer: D
Economics
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During the Uruguay round of GATT negotiations, the United States sought to
a. liberalize trade in agricultural products. b. increase the number of quotas on finished goods. c. liberalize the use of embargoes. d. tighten the role of GATT in excluding services.
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The information on a demand curve is also on a(n)
A. budget constraint. B. indifference curve. C. income-consumption curve. D. price-consumption curve.
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