Classicals Argue That an Adverse Supply Shock Would

question 49

Multiple Choice

Classicals argue that an adverse supply shock would

• A)raise neither the natural rate of unemployment nor the actual rate of unemployment.
• B)raise the actual rate of unemployment, but not the natural rate of unemployment.
• C)raise the natural rate of unemployment, but not the actual rate of unemployment.
• D)raise both the natural rate of unemployment and the actual rate of unemployment.

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Definitions:

Sugar Plantations

Large agricultural estates dedicated to the cultivation of sugar cane, historically associated with the transatlantic slave trade and colonial exploitation.

Catholic Church

The largest Christian church, led by the Pope, with a global presence and centuries of influence on spiritual, cultural, and political aspects of life in various countries.

Exploration

The act of traveling through an unknown area to discover information or resources.

European Monarchs

Kings, queens, or emperors ruling over countries in Europe, each with varying degrees of power and political influence depending on the country's governmental structure.