An Event That Directly Affects Firms' Costs of Production and Thus

question 52

Multiple Choice

An event that directly affects firms' costs of production and thus the prices they charge is called

• A)a Phillips contraction.
• B)an inflationary spiral.
• C)a demand shock.
• D)a supply shock.

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Definitions:

Antibiotic Eyedrops

Medicated drops used to treat bacterial infections of the eye, preventing or limiting the spread of bacteria.

Levator Palpebrae Superioris

A muscle in the orbit that elevates the upper eyelid.

Inferior Oblique

A muscle in the eye that participates in the outward and upward movement of the eyeball, one of six extraocular muscles that control eye movements.

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A disease of the eye characterized by increased intraocular pressure.