When a Temporary Shock in the Economy Involves a Restriction

question 44

Multiple Choice

When a temporary shock in the economy involves a restriction in supply ________.

• A)we refer to it as a negative supply shock
• B)a rise in commodity prices typically follows
• C)a reduction in output typically ensues
• D)all of the above
• E)none of the above

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Definitions:

Judicial Review

The power of the courts to assess the constitutionality of legislative acts or executive actions.

Commerce Power

Refers to the authority granted to Congress to regulate commerce with foreign nations, and among the several states, and with the Indian tribes.

Federal Government

The national level of government, with powers and responsibilities distinct from those of state, local, or municipal levels.

Civil Rights

The rights of individuals to receive equal treatment and freedom from discrimination in various settings, including employment, education, and housing.