11:10 nu.blackboard.com T-Mobile LTE 2 points Sve A large grain crop resulting from favorable weather conditions would shift which of the following curves? 02.ag grogte der and short.n egt..Oy QUESTION 14 During the Gulf War, Iraq invaded Kuwait settling oil fields on fire, which caused the price of crude oil to increase sharply. How would such an increase in oil prices have influenced the short-run aggregate supply, growth rate of real GDP and the inflation rate of the U.S. and other oil-importing nations who use oil as a resource in production? O1 SRAS to fall, the growth rate of real GDP to increase, and the inflation rate to fall, 2 SRAS to fall, the growth rate of real GDP to decline. and the inflation O3 SRAS to rise, the growth rate of real GDP to decline, and the inflation O4 SRAS to rise, the growth rate of real GDP to increase, and the inflation rate to increase rate to increase. rate to increase. QUESTION 15 Within the AD-AS model, which one of the following adjustments will cause the economy to return to its long-run capacity when output is temporarily greater than the economy\'s long-run potential? O1 lower wage rates and resource prices reduce short-run aggregate O2 lower interest rates increase aggregate demand, and, thereby, stimulate O3 higher wage rates and resource prices reduce short-run aggregate O4 a decrease in prices reduces aggregate demand. supply. output. supply QUESTION 16 Which of the following is true? , frictional unemployment implies a lack of available jobs. Oa during a recession, cyclical unemployment will be low. O3 when an economy is at full employment, cyclical unemployment will be absent. 04when an economy is at full employment, actual employment will be below the natural rate. QUESTION 17 A price index is designed to measure 01 changes in the general level of employment across time periods. 02 changes in the quantity of output produced across time periods. O3 the market value of output produced during the current period with the value of output produced during an earlier time period O4the cost of buying a market basket of goods at a point in time relative to the cost of buying the same market basket during an earlier time period QUESTION 18 If waitresses and taxi drivers do not report all of their income to the
13> A large grain crop resulting from favourable weather conditions would shift aggregate demand and short-run aggregate supply. The correct answer is option (b).
14> The increase in oil prices have influenced the short run aggregate supply, growth rate of real GDP, and the inflation rate of the U.S. and other oil-importing nations who use oil as resource in production SRAS to rise, the growth rate of real GDP to increase, and the inflation rate to increase. The correct option is (4).
15> The correct option is (3) which is higher wage rates and resource prices reduce short-run aggregate supply.
16> The correct option is (2) which is during a recession, cyclical unemployment will be low.
17> The correct option is (4). A price index shows that the cost of buying a market basket of goods at a point in time relative to the cost of buying the same market basket during an earlier time period.
18> The correct answer is option (3). The unreported income is an example of nonmarket production.
19> The correct answer is option (1). During expansionary phase of a business cycle, real GDP rises and unemployment falls.
20> The correct answer is option (4). It states frictional unemployment to be imperfect information and temporary periods of unemployment while workers are changing jobs.
21> the correct answer is option (2). The structural unemployment is general mismatch between the skills of unemployed workers and the skills needed by employers with job openings.
22> The correct answer is option (2) which is $4,000
23> The correct answer is option (3)
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