A "shock" is something that creates a shift in:
A. the supply curve only.
B. both the demand curve and the supply curve at the same time.
C. the demand curve only.
D. either the demand curve or the supply curve.
Answer: D
Economics
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Refer to Table 2-4. What is George's opportunity cost of cultivating a garden?
A) one-half of a garden cultivated B) two lawns mowed C) two-thirds of a garden cultivated D) one and a half lawns mowed
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Consider a nation in which most workers are unionized. If all the nation's unions band together and succeed in boosting wages established by long-term labor contracts, then
A) there is a leftward shift in just LRAS. B) there is a leftward shift in both LRAS and SRAS. C) there is a rightward shift in just SRAS. D) there is a rightward movement along the SRAS curve.
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