Macroeconomics
13th Edition
ISBN: 9781337617390
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
Chapter 4.2, Problem 2ST
To determine
The shortages and long lines.
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Serious natural disasters like hurricanes and tornadoes cause widespread and extensive damage to buildings. As a result of a natural disaster, what would you expect to happen in the market for building supplies? Describe
what is a scenario in which the consumer faces a shortage of a good due to high demand. Explain how this may have happened.
How can a free-market eliminate shortages?
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