What Would NOT Be Associated with a Favourable Supply Shock

question 155

Multiple Choice

What would NOT be associated with a favourable supply shock?

• A) short-run Phillips curve shifts right
• B) unemployment rises
• C) price level falls
• D) output falls

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Definitions:

Homo Antecessor

Early humans living in about 1.2 mya to 800,000 years ago; some scientists believe that they should be classified with Homo heidelbergensis.

Indonesia

A Southeast Asian country consisting of more than seventeen thousand islands, including Sumatra, Java, and parts of Borneo and New Guinea, known for its diverse cultures, languages, and landscapes.

Genus Homo

The biological genus that includes modern humans (Homo sapiens) and several other extinct human species, characterized by bipedalism, large brains, and tool use.

Habilis

Homo habilis, an early human species known for its use of stone tools, which lived approximately 2.1 to 1.5 million years ago.