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In 2019, before the Covid-19 pandemic began affecting the U.S. economy, Nouriel Roubini of New York University identified "three negative supply shocks that could trigger a global recession by 2020." What is a negative supply shock? O A. Any event that causes consumers to unexpectedly increase their consumption, shifting aggregate supply to the left OB. An event that causes an unexpected change in production costs or technology, shifting short-run aggregate supply to the left OC. An event that causes an unexpected change in production costs or technology, shifting long-run aggregate supply to the left OD. Any event that causes firms to sell more goods than they can produce, shifting aggregate supply to the left

In 2019, before the Covid-19 pandemic began affecting the U.S. economy, Nouriel Roubini of New York University identified "three negative supply shocks that could trigger a global recession by 2020." What is a negative supply shock? O A. Any event that causes consumers to unexpectedly increase their consumption, shifting aggregate supply to the left OB. An event that causes an unexpected change in production costs or technology, shifting short-run aggregate supply to the left OC. An event that causes an unexpected change in production costs or technology, shifting long-run aggregate supply to the left OD. Any event that causes firms to sell more goods than they can produce, shifting aggregate supply to the left

Economics: Private and Public Choice (MindTap Course List)
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter10: Dynamic Change, Economic Fluctuations, And The Ad-as Model
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In 2019, before the Covid-19 pandemic began affecting the U.S. economy, Nouriel Roubini of New York University identified "three negative supply shocks that could trigger a global recession by 2020." What is a negative supply shock? OA. Any event that causes consumers to unexpectedly increase their consumption, shifting aggregate supply to the left OB. An event that causes an unexpected change in production costs or technology, shifting short-run aggregate supply to the left OC. An event that causes an unexpected change in production costs or technology, shifting long-run aggregate supply to the left OD. Any event that causes firms to sell more goods than they can produce, shifting aggregate supply to the left
Transcribed Image Text:In 2019, before the Covid-19 pandemic began affecting the U.S. economy, Nouriel Roubini of New York University identified "three negative supply shocks that could trigger a global recession by 2020." What is a negative supply shock? OA. Any event that causes consumers to unexpectedly increase their consumption, shifting aggregate supply to the left OB. An event that causes an unexpected change in production costs or technology, shifting short-run aggregate supply to the left OC. An event that causes an unexpected change in production costs or technology, shifting long-run aggregate supply to the left OD. Any event that causes firms to sell more goods than they can produce, shifting aggregate supply to the left
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