please help with the following mcqs:

1)Oil exports in country AZX are the biggest contributor to its gross domestic product (GDP), and the oil industry is very labour absorbing, employing 45% of the total labour force. If the labour market is at equilibrium, and there is a shock oil price increase which of the following is most likely to occur in the labour market?

• A.In the labour market there will be a downward shift of the price-setting curve, prices rise; real wages fall, and there is a negative bargaining gap.
• B.There is an expectation that there will be deflation in the country AZX after the shock in the next three years to five years.
• C.In the labour market, the bargaining gap will disappear, and the expected inflation rate will stabilise at the rate of the increase in the oil price.
• D.The upward shift of the aggregated demand curve reflects an increase in the demand for oil after the shock

2)Joseph has a house worth R1500000; he still owes 15% of its value to ABC Bank Ltd from whom he borrowed money. He has financial assets worth 25% of the home loan and is expecting a promotion in 3 years. His expected earnings from employment are 9% of the house's value in year 4. Joseph's net worth is _____ and his broad wealth is ________.

• A.R56250; R5 000000.
• B.R1500000; R56250.
• C.R3000000; R1 725000.
• D.R1556250; R1 711500.

3)Which of the following best defines the real exchange rate?

• A.The price of foreign goods in terms of domestic goods.
• B.The price of foreign currency in terms of domestic currency.
• C.The price of foreign bonds in terms of domestic bonds.
• D.The price of domestic currency in terms of foreign currency.