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- Over the last century, during what periods was the U.S. inflation late highest and lowest?If inflation rises unexpectedly by 5%, indicate foreach of the following whether the economic actor ishelped, hurt, or unaffected:a. A union member with a COLA wage contractb. Someone with a large stash of cash in a safedeposit boxc. A bank lending money at a fixed rate of interestd. A person who is not due to receive a pay raise foranother 11 monthsCongratulationst You have been appointed an economic policy adviser to the United States, You are told that the economy is significantly abowe futtemplyoment GDP. Based on this inlormation, how can the economy would adjust to reach LR.SR Equilbrium (Classical View)? The economy wilt experience low unemployment rate, pushing wages up, and increasing the pelces of a key input (labor). shatting the sAS to the left (up). The economy will experience high unemployment rate, pushing wages down, and reducing the prices of a key input (labor). shiting the SAS to the right (down). The econoriny wil experience low unemployment rate, decreasing inceme, which will eventually shift the AD to the left. The eooncmy will experience low unemployment rate, pushing wages up, and increasing the prices of a key input (labor), shiting the sAs to the night (down).
- Consider the short-run and long-run aggregate supply curves in the graph to the right. Using the line drawing tool, draw and label a new SRAS curve that shows the effect of the following event: A reduction in input prices. Carefully follow the instructions above, and only draw the required object.Bob is let go because of slumping sales. A. seasonal B. frictional C. structural O D. cyclical E. not countedQuestion 29 The AD Curve becausO WILL of triatioIT CC. explains how inflation affects output in the short run Intatoatoo all of the above none of the above a lower spending sponding to amerem goods-mame ing levels of th ampham aggregate competicom Tato
- Columns 1 and3 in the table below show employment and the price level in the economy. Aasume that the labour foroe in the economy is 11.0 milion. Compute and enter in column 2 the unemployment rate at each level of employment. For nach row (xcopt the first), compute and enter in column 4 the annual rate of intation. (Round your answers to hwo decmal places) Employment (milions of workers) Price Rate of Infation Lhemployment Rate (%) Level () 9.5 1.2 9.6 1.28 9.7 1.37 9.8 1.48 1.62 10 1.79 10.1 201 10.2 23If the employment rate increase reine 10% to 14% the economy willWhat happens when the economy is in an inflationary gap? The money wage rate and real GDP OA. falls; decreases OB. rises; decreases OC. falls; increases OD. rises; increases
- 1.If the employment rate of output exceeds the planned aggreagte expenditure what will happen to the unemployment rate assuming that it will persist in the future?The government leaders of Nestua believe that corporations in Nestua are not paying their fair share of taxes and raise the corporate income tax rate from 20% to 30%. They are pleased the following year when corporate income tax revenues increase by $3 billion. However, the country experiences unprecedented inflation despite wages remaining steady at their previous year’slevel. After-tax corporate income remains the same as it was the previous year. Who bears theincidence of this corporate income tax increase in Nestua?Suppose that gowth nd unemployment were at satisactorylevels What target would be The interest rate. Thente o growth f he money stock |The curent nflaton rate. |The expected infaton ratein two yeas time.