Q cosumne X Home | C X Proctorio X Custome X Q Please sc X Dashboa x C | Chegg.c X C Please sc X @ (3) Instag X + X C https://www.instagram.com/direct/t/340282366841710300949128186723142665993 G Instagram Q Search n + Application of Inflation, GDP, Income, Employment, AS, AD, Monetary and (i Fiscal Policy analysis all in one. Messages lo Your nominal wages are 30,000 a year. The labor force is 35 million and is Ad unchanged by the oil shock. Before the oil shock the price level was and GDP was . The economy has been shaken by a ly sharp increase in the price of crude oil. Because of this oil shock the Yo economy has moved away from its full employment level of GDP and is experiencing a 2 percent increase in the unemployment rate. The BLS released a report stating that the unemployment rate at the new equilibrium 6 3 is now at 7%. Re Show calculations whenever possible. (a) Before the oil shock the price level was and GDP was Yo Frances 101.F O 5:45 PM 7/17/2022 D SunnyQ cosumne X Home | C X Proctorio X Custome X Q Please sc X Dashboa X C | Chegg.c X C Please sc X (3) Instag X + X C https://www.instagram.com/direct/t/340282366841710300949128186723142665993 G Instagram Q Search n + ezel Show calculations whenever possible. Messages (a) Before the oil shock the price level was and GDP was loluspar Active n lyida ire You sen (b) Estimate the CPI index in the base year. mik.ee_ Sent yo (c) How much would a basket of goods that cost $6,000 in the base year cost if the CPI is 130? Labelle Replied (d) What is the unemployment rate in this question if the economy is operating at full employment? Chisom You're v (e) Estimate the # of unemployed in the economy at the full employment Frances 101.F O O 5:45 PM 7/17/2022 D SunnyQ cosumne X Home | C X Proctorio X Custome X Q Please sc X Dashboa X C | Chegg.c X C Please sc X (3) Instag X + X C https://www.instagram.com/direct/t/340282366841710300949128186723142665993 G Instagram Q Search n + ezehchis (e) Estimate the # of unemployed in the economy at the full employment level of GDP. Messages loluspammm (f) What type of workers do we expect to be unemployed at full Active now employment? lyida irene You sent a m (g) How will this oil shock to the economy effect GDP and the Price Level? Draw the new equilibrium after the oil shock and label the new Price Level mik.ee_0 and GDP (this is not a random calculation, there is an exact GDP value that Sent you a n can be calculated using the information in this assignment-the Price Level cannot be calculated in this question). Labelle Esthe Replied to y (h) How will this oil shock to the economy affect the Price Level? Chisom You're welco (i) How will this change in the Price Level affect your real income? Frances & 101.F O 5:45 PM Sunny O 7/17/2022 DQ cosumne X Home | C X Proctorio X Custome X Q Please sc X Dashboa X C | Chegg.c X C Please sc X (3) Instag X + X C https://www.instagram.com/direct/t/340282366841710300949128186723142665993 G . . . Instagram Q Search n + ezehchisom loluspammm 78 i Messages (h) How will this oil shock to the economy affect the Price Level? (i) How will this change in the Price Level affect your real income? (j) Estimate the # of unemployed in the economy at the 7 percent unemployment rate. (k) Explain the three main categories of unemployment present when the economy is operating at a 7 % unemployment rate. Chiout You're welcome . 4d Message... Frances & 101.F O 5:45 PM Sunny O 7/17/2022 D