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D Question 5 Which of the statements below would NOTcause a shift in aggregate supply from AS, to AS, shown in the diagram below? O An increase in production costs O An increase in minimum wage O An improvement in technology A reduction in government expenditure Question 6 A widget is a normal good that is used in the tech industry. Which of the following will cause a RIGHTWARD shift in the demand curve for widgets? O Price of steel used to produce widgets increases due to the U.S. government placing tariffs on imports from China ( The government raises taxes on firms that manufacture widgets An increase in the price of dingbats, which are substitutes for widgets A recession that causes incomes to decrease Question 7 Which of the following actions by the Fed would cause interest rates to fall? O Raising the discount rate Raising the reserve requirement O Purchasing bonds from a commercial bank None of the above Question 8 As an economist with the World Bank you ha been asked to measure the Gross Domestic Product for the US for 2019. You are told that the private consu d exports all add up to $ 24 trillion. You later learn that imports to the US in 2019 were $4 trillion. To get GDP, you should Ignore the $ 4 trillion because exports have alr dy been included in the $ 24 trillion Add $ 4 trillion to $24 trillion because imports are used as inputs in the production of other goods in the US Subtract $4 trillion from $24 trillion because imports are not part of US domestic output None of the above