The Technology Boom of the Late 1990s Was an Example

question 130

Multiple Choice

The technology boom of the late 1990s was an example of

• A) a negative demand shock.
• B) a negative supply shock.
• C) a positive demand shock.
• D) a positive supply shock.
• E) what happens from drinking too much kool aid.

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Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, indicating economic benefit.

Export Sector

The segment of an economy's industry involved in producing goods or services for sale in foreign countries.

Consumer Surplus

The difference between the maximum price consumers are willing to pay and the market price they actually pay.

International Trade

The trade of products, services, and funds across borders or territories of different countries.