In the Short Run, a Favourable Supply Shock Causes

question 51

Multiple Choice

In the short run, a favourable supply shock causes:

• A)both prices and output to rise.
• B)prices to rise and output to fall.
• C)prices to fall and output to rise.
• D)both prices and output to fall.

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Definitions:

Pizza

A popular dish of Italian origin consisting of a usually round, flattened base of leavened wheat-based dough topped with tomatoes, cheese, and often various other ingredients, baked at a high temperature.

Normal Distribution

A statistical function that represents a bell-shaped curve where most occurrences take place near the mean or average value.

Standard Deviation

A measure in statistics that quantifies the amount of variation or dispersion of a set of values from the mean (average) of the set.

Battery Life

The duration a battery can continue to provide power to a device before it needs recharging or replacement.