| 单词 | adverse supply shock |
| 释义 | adverse supply shock A sudden reduction in the supply of an input necessary for an economy. This could result from natural disasters such as floods or earthquakes; from human, animal, or plant diseases; or from major political upheavals such as war or revolution. To oil importers, the sudden price increases imposed by the Organization of Petroleum Exporting Countries (OPEC) in the 1970s appeared as adverse supply shocks. Such a shock reduces the real income an economy can produce even at full employment of its available resources. |
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