A The old price level still remains unchanged. Which of the below graphs is the correctdepiction of the change in the previous two questions?PP(b)(a)PAS AS1ASASOPPYB YA(c)PYPYC➡YD Y(d)PAD1ADOADOADYF YEYYGYHY-B Which points (or what distance) demonstrate the disequilibriumbetween the expenditure and output on the graph you chose?C Now the markets suggest a new price level at which output will equalexpenditure. Graph an AS/AD and in it show with an arrow how the realbalances effect, the interest rate effect, and the foreign effect will adjust theprice level to match expenditure to output.D Now on a separate graph show how the worker cost effect will drive firms to hire or fireworkers so that their output matches the expenditure.

Let's dissect each section of your queries:A. Based only on the description supplied, it is…

Answered: A The old price level still remains…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter10: Consumer Choice Theory

Section: Chapter Questions

Problem 10P

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