Question
Hi, just unsure about this question. Thanks! Q1. If unemployment was reduced, which way would the AD curve shift? (shift right, shift left, remain unchanged)
Hi, just unsure about this question. Thanks!
Q1. If unemployment was reduced, which way would the AD curve shift? (shift right, shift left, remain unchanged)
Q2. If unemployment was reduced, which way would the AS curve shift? (shift right, shift left, remain unchanged)
Q3. As a result of these shifts, how would this affect price levels? (increase, decrease, remain unchanged)
Q4. As a result of these shifts, how would this affect GDP? (increase, decrease, remain unchanged)
Q5. In the short run, how would this economy operate relative to the natural rate of unemployment? (above, below, equal to)
Q6. In the short run, how would this economy operate relative to the natural rate of output? (above, below, equal to)
Thankyou! :)
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