Question

In: Economics

If, as a result of climate change, half the production of citrus fruits in U.S. is...

If, as a result of climate change, half the production of citrus fruits in U.S. is destroyed, which curve will shift to which direction?

the AD curve shifts the right

the AD curve shifts to the left

the AS curve shifts to the left

the AS curve shifts to the right

Solutions

Expert Solution

Aggregate supply curve reflects the total quantity of goods and services that produced and sells by firms in an economy.

Aggregate demand curve reflects the total spending on goods and services in an economy.

-------------------------------------------------------------------------------

If as a result of climate change, half the production of citrus fruits in US destroyed, then there will be reduction in goods and service sold by firms. It is reflected by a leftward shift of the aggregate supply (AS) curve.

Hence, the AS curve will shift to the left.

Answer: Option (C) i.e., AS curve shifts to the left


Related Solutions

Vitamin C is found naturally in a number of fruits, particularly citrus fruits. It is also...
Vitamin C is found naturally in a number of fruits, particularly citrus fruits. It is also an organic compound that can be synthesized in large quantities in the laboratory. Is there any difference between the natural material and the synthetic material in terms of structure and chemical properties that would depend upon its source? Explain
what will be the impact on the economy of Australia as a result of climate change...
what will be the impact on the economy of Australia as a result of climate change affecting drinking water?
Which of these are a result of the phenomenon known as Global Climate Change? [Select all...
Which of these are a result of the phenomenon known as Global Climate Change? [Select all that apply] Question 6 options: Animals will be found at higher elevations than they are currently Decreased soil pH from acidic rain More frequent occurrences of skin cancer because of decreases in atmospheric ozone An increase in deforestation A shift in where we find different species of fish in the oceans More severe weather like hurricanes and droughts
Why is Coca-Cola affecting climate change in different countries and U.S?
Why is Coca-Cola affecting climate change in different countries and U.S?
Citric acid is an organic acid found in citrus fruits that is also a key intermediate...
Citric acid is an organic acid found in citrus fruits that is also a key intermediate in the aerobic respiration cycle in living cells. It is composed of 37.51% C, 4.20% H, 58.29% O by mass. A titration required 24.05mL of 0.2943 M NaOH to neutralize 0.4533 g of citric acid. Given that there are three acidic hydrogens in each molecule, what is the molecular formula of citric acid?
A yellow dragon disease threatens the citrus fruits in most countries . The responsible pathogen of...
A yellow dragon disease threatens the citrus fruits in most countries . The responsible pathogen of the disease is a motile bacteria belongs to Candidatus Liberibacter spp and the size of causative gene that found in the chloroplast genome is 720 bp. A plant disease management team from Ministry of Agriculture and Fisheries request for your help to perform DNA analysis for 15 lime trees before being send to the plant nurseries around the country. Answer the following questions. a....
Introduction on how climate change and its effects on the efficiency of food production.
Introduction on how climate change and its effects on the efficiency of food production.
Suppose that Egypt decides to become self-sufficient in citrus fruits and even to export them. In...
Suppose that Egypt decides to become self-sufficient in citrus fruits and even to export them. In order to accomplish this, large tax incentives are granted to companies that will invest in citrus fruits production. As a result, the Egyptian industry becomes competitive and able to sell fruits at the lowest price. Does Egypt have a comparative advantage? Why, or why not? What are the consequences for the overall economy? Answer theoretically, not numerically or graphically.
Coffee and tea are substitutes, and production of both goods is sensitive to climate change. Coffee...
Coffee and tea are substitutes, and production of both goods is sensitive to climate change. Coffee production is negatively affected by drought in the major coffee-producing countries (especially Brazil and Vietnam). Tea production is negatively affected by extreme rainfall events in tea-producing countries (especially China and India).We observe that the equilibrium price of tea has risen and the equilibrium quantity of coffee has risen. What could be responsible for this pattern –a drought in Brazil, or an extreme rainfall season...
- What are the consequences of climate change for organisms?List several consequences of climate change for...
- What are the consequences of climate change for organisms?List several consequences of climate change for organisms and ecosystems.   -Describe a positive feedback loop that may accelerate climate change.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT