Answer:
<h2>In this case,the correct answer would be option B) in the answer choices or shift the short-run aggregate supply curve to the right.</h2>
Explanation:
- The destruction of the oil and natural gas refinery capacity Gulf of Mexico during Hurricane Katrina would reduce the overall supply of oil which would decrease the short run aggregate supply in the economy.
- This phenomenon can be illustrated by an initial shift of the aggregate supply curve to the left in the goods market in economy. Now, due to reduction in overall oil supply due to destruction of the refineries, the oil prices in the market would increase,everything else held constant.
- As after three years,the oil refineries are restored properly, the overall oil supply would again increase in the market from its initial position following the refinery destruction after the hurricane,which would consequently lead to a rightward shift of the aggregate supply curve in short run in the goods market.
Answer:
In general, globalization has been shown to increase the standard of living in developing countries, but some analysts warn that globalization can have a negative effect on local or emerging economies and individual workers. Globalization is not new.
Answer:
Business process automation is the use of technology to execute recurring tasks or processes in a business where manual effort can be replaced. It is done to minimize costs, increase efficiency, and streamline processes.
Explanation:
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Answer:
The answer to this question is B. Peak
Explanation:
The peak stage of a business cycle is the stage where the economy is producing at is maximum rate and the rate of employment is higher. At the peak cycle, employment is at or above full employment, and inflationary pressures on prices are evident. A peak is the highest point of the business cycle, when the economy is producing at maximum allowable output,
