Identify which of the following statements does NOT imply a difficulty in measuring the inflation rate using the consumer price index. #1 Different regions in an economy may experience different changes in price #2 O The representative basket of goods and services does not necessarily represent every household #3 The representative basket of goods and services for measuring CPI changes once every several years #4 Prices of goods and services change over time#4 O Structural, frictional and seasonal unemployment fallsWhat is true about the level of unemployment at Y1? Price level (S) Real GDP (quarterly) Q There is no cyclical unemployment 0 All three 0 Natural Rate of Unemployment (NRU) falls Question 4 Minimum wage is a government intervention on labour compensation which is equivalent to a price oor in the labour market. Although it aims to protect the well being of workers, it would also increase firms' _ (three words). As a result, it would cause the (two words) to shift leftward, resulting in a decrease in real output and an increase in the whwe words)