Supply Shocks

question 54

Multiple Choice

Supply shocks

• A)occur more frequently than demand shocks.
• B)usually result from fiscal and monetary policy changes.
• C)occur when sellers face unexpected changes in the availability and/or prices of key inputs.
• D)have been responsible for most of the recessions in the United States since World War II.

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Definitions:

Dispute Resolution

Methods and procedures that are used to resolve conflicts or disagreements among parties, which can include negotiation, mediation, and arbitration.

Strike Replacements

Workers hired by an employer to perform the duties of striking employees during a labor dispute, often to maintain operations.

Secondary Boycott

A form of protest where individuals or entities refuse to do business with or purchase products from a company that does business with a targeted entity, usually to exert pressure.

Railway Labor Act

A US federal law passed in 1926 that governs labor relations in the rail and airline industries, aiming to prevent strikes and disruptions by facilitating bargaining and mediation.