Suppose there is a hurricane that causes oil rigs and refineries in and around the Gulf of Mexico to shut down. This is an example of a ◆ supply shock and, referencing the graph below, is best represented by the shift р S2 S1 X D Download the figure. Q
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Options for blank one: positive OR negative
options for blank two: from curve s2 to curve s1 OR from curve s1 to curve s2
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- Hi I was wondering if the table below matches the article. Graph # Graph Name Halloween Costume Pe Increase Q ∆ in D Increase ∆ in Qd Increase ∆ in S Decrese ∆ Qs ? The world’s leading industry source of Halloween costumes is announcing that stores across the United States are running out of inventory less than two weeks before the Oct. 31 holiday amid an ongoing supply chain crisis. The nonprofit Halloween & Costume Association (HCA), a U.S.-based trade group that represents more than 30 costume companies with more than $3 billion in cumulative sales, reports that the “Halloween costume crisis of 2021” already has caused vendors nationwide to run out of the most coveted costumes. “We’re seeing mass shortages in some of the largest U.S. retailers like Target, more than we’ve seen in a very long time,” HCA Chairman Gregor Lawson told The Washington Times. “Several of our members have stock sitting on boats because of the backlog of…Read the following extract and answer the questions that follow:Big fuel price hikes announced for Wednesday, 29 Nov 2021The petrol price will be hiked by 81c a litre on Wednesday, while diesel will go up by between 72.5c a litre (0.05% sulphur) and 74.5c (0.005% sulphur), the department of mineral resources and energy announced. The latest price hike will push the price of petrol - currently around R19.50 a litre - to above R20 in Gauteng and other inland provinces. At the start of November, petrol prices were hiked by R1.21, while diesel increased by R1.48. Illuminating paraffin will go up by 42.2c/l, while the maximum LP Gas retail price will be increased by 183.00c/kg from 1 December. Local fuel prices are determined by international oil prices - as well as the dollarrand value, as South Africa buys oil in dollar. The latest fuel price hikes are due in large part to a sharp fall in the rand against the dollar, which averaged at R15.85/$ over the past month, compared to R14.72 the…Which of the following are short-run and which are longrun adjustments? IBM hires 200 more software engineers.
- In the short run, the quantity of output that firms supply can deviate from the natural level of output if the actual price level in the economy deviates from the expected price level. Several theories explain how this might happen. For example, the misperceptions theory asserts that changes in the price level can temporarily mislead firms about what is happening to their output prices. Consider a soybean farmer who expects a price level of 100 in the coming year. If the actual price level turns out to be 90, soybean prices will(FALL, RISE, OR REMAIN THE SAME) , and if the farmer mistakenly assumes that the price of soybeans declined relative to other prices of goods and services, she will respond by (REDUCING OR INCREASING) the quantity of soybeans supplied. If other producers in this economy mistake changes in the price level for changes in their relative prices, the unexpected decrease in the price level causes the quantity of output supplied to (RISE ABOVE OR FALL BELOW)…In the short run, the quantity of output that firms supply can deviate from the natural level of output if the actual price level in the economy deviates from the expected price level. Several theories explain how this might happen. For example, the misperceptions theory asserts that changes in the price level can temporarily mislead firms about what is happening to their output prices. Consider a soybean farmer who expects a price level of 100 in the coming year. If the actual price level turns out to be 90, soybean prices will and if the farmer mistakenly assumes that the price of soybeans declined relative to other prices of goods and services, she will respond by the quantity of soybeans supplied. If other producers in this economy mistake changes in the price level for changes in their relative prices, the unexpected decrease in the price level causes the quantity of output supplied to the natural level of output in the short run.find all the pure WSEs (weak sequential equilibrium).
- After the bird flu disease was seen in a poultry farm in the town of Kızıksa in Manyas District of Balıkesir, due to the shrinkage of demand, the chickens, which reached the level to be slaughtered in 40 to 45 days economically, could not be slaughtered in time. When some companies had to feed the chickens they could not cut for a while, the broilers started to gain weight and fat quickly. Which of the balances on the graph correctly express this situation? (Dark lines are the first equilibrium, dotted lines are supply and Demand in changing equilibrium.) w mm A) E1 B) E2 С) ЕЗ D) E4 E) E5 P S1 S ЕЗ E2 ES E E6 D2 D \DIHand Sanitizer Due to the H1N1 flu outbreak, the demand for hand sanitizer has tripled. Should Johnson & Johnson increase production of their Purell hand sanitizer? Should it invest in doubling production capacity?Austria is one of the largest exporters of oil. At the end of 2019, the global price of oil fell substantially. For this question, treat oil as a final good, not an input into production. Begin at long-run equilibrium. this is all one question please answer everything!As a result of the fall in the price of oil, Austria's AD ( increased,decreased,remained the same,changed ambiguously), SRAS ( increased,decreased,remained the same,changed ambiguously), and LRAS ( increased,decreased,remained the same,changed ambiguously) GDP ( increased,decreased,remained the same,changed ambiguously), unemployment ( increased,decreased,remained the same,changed ambiguously) and the price level increaseddecreasedremained the samechanged ambiguously.Assume that the government intervened to resolve the output gap. As a result of the government intervention, AD ( increased,decreased,remained the same,changed ambiguously) SRAS ( increased,decreased,remained the same,changed ambiguously) and LRAS (…
- Enumerate the factors that affect a static supply schedule and explain themConsider the economy described by the following equations: C = 1,600 + 0.9 (Y – T) I p = 800 G = 1,600 NX = 200 T = 1,600 Y* = 29,000 a. Complete the table shown below to find short-run equilibrium output. Consider possible values for short-run equilibrium output as they are given in the table below.Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. OutputY Planned aggregate expenditure (PAE) Y – PAE Y = PAE? 27,200 (Click to select) Yes No 27,400 (Click to select) No Yes 27,600 (Click to select) No Yes 27,800 (Click to select) No Yes 28,000 (Click to select) No Yes b. Short-run level of equilibrium output: c. What is the output gap for this economy? Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. The actual unemployment rate should…The price of oil is currently over $80 per barrel and has been as high as $90 per barrel after Saudi Arabia and a couple of oter OPEC countries reduced output this year. The demand for oil is expected to increase by 1 million barely per day over the next year according to the International Energy Agency but OPEC+ has been unclear about its intentions of increasing oil supplies. a. If OPEC+ increases its production by million barrels per day, we can unambiguously say that the equilibrium price will fall, and the equilibrium quantity will rise.
