An Example of an Aggregate Supply Shock Is

question 330

Multiple Choice

An example of an aggregate supply shock is

• A)inflation caused by a surge in demand.
• B)the cutoff of oil by the OPEC nations in the early 1970s.
• C)the increase in the labor force due to the baby-boomer generation reaching working age.
• D)the increase in candy sales every February.

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Definitions:

Exaggerated Claims

Statements that stretch the truth or make something seem more important or serious than it actually is.

Contract

A legal contract made between two or more parties, which can be upheld in a court of law.

Indemnity

A contractual agreement in which one party agrees to compensate for any losses or damages incurred by another.

Written Commitment

A documented pledge or promise to engage in or refrain from a specified action.