The international oil price hike by OPEC was an adverse supply shock faced by the U.S.in the 1970s.
Correct Answer:
Verified
Q136: The short-run equilibrium output in the economy
Q137: If global pollution causes climatic changes that
Q138: An adverse supply shock would shift:
A)only the
Q139: In the figure given below,when aggregate supply
Q140: The figure given below depicts long-run equilibrium
Q142: If the rate of increase in the
Q143: If the price level increases by 5
Q144: During a particular year,nominal wages increased by
Q145: The longer the unemployment rate remains above
Q146: An adverse supply shock generally decreases the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents