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Hello! I appreciate the guidance on which questions are correct! :) 1) In the AD-AS model, a decrease in oil prices makes the upward sloping

Hello! I appreciate the guidance on which questions are correct! :)

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1) In the AD-AS model, a decrease in oil prices makes the upward sloping AS curve a. shift to the left. b. shift to the right. c. remain the same. (1. atter. 2). The curve is directly derived from If 1M model. Aggregate demand. a. b. Aggre gate supply. c. Phillips. (1. None of the above. 3). In the short run, given an upward sloping AS curve, an expansionary scal policy leads to a increase in the output in the AD-AS model than in the ISLZVI model where the price level is xed, because the price level goes in the AD-AS model. a. bigger; up. b. bigger; down. c. lower; up. d. lower; down. 4). According to Lucas; which of the following is NOT true? a. Wages respond to the change in the price level instantly. b. Economic agents have adaptive (naif) expectations. c. Expansionary scal policy causes only inflation without any gain in the output in the long run. d. The aggregate supply is vertical even in the short run. 5). Which of the following is NOT a friction in the labor market introduced by New Keynesian economists? a. Insideroutsider theory. b. Menu costs. c. Long-term contract. d. All the above are frictions

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