1.18 The costs to the hospitality industry being presented in the above quote are... (4 marks) a) Social cost b) Economic cost c) Political cost d) Distribution cost 1.19 According to Keynesian economists, during a boom in economic activity... (4 marks) a) money supply should be increased. b) interest rates should be cut. c) government should increase its spending. d) tax rates should be raised. 1.20 Interest rates are usually during the latter stages of a downswing in the South African business cycle. An improvement in economic activity is normally triggered by an increase in Manufacturing production rises during an upswing and in the latter stages of the upswing, inflation, and interest rates (4 marks) a) low; exports; increase b) low; consumption; fall c) low; imports; fall d) high; exports; increase "Oregon marked a milestone last month by returning to pre-pandemic employment levels, rebounding much faster than during prior recessions. But some sectors, notably hospitality, haven't fully recovered. That's largely because of an ongoing worker shortage that has constrained businesses' ability to staff up." The unemployment being addressed in the above quote is... (4 marks) a) Cyclical unemployment b) Seasonal unemployment c) Hidden unemployment d) Frictional unemployment 1.18 The costs to the hospitality industry being presented in the above quote are... (4 marks) a) Social cost b) Economic cost c) Political cost d) Distribution cost