SECTION B: TRUE/FALSE Questions (20 marks) This section contains 4 questions. You are required to answer all the FOUR questions. For each statement nominate either
SECTION B: TRUE/FALSE Questions (20 marks) This section contains 4 questions. You are required to answer all the FOUR questions. For each statement nominate either TRUE or FALSE. In about 75 words (i.e. one paragraph) explain why you think it's true or false. It is important that you use graphs where appropriate. Each question is worth 5 marks, i.e. 1 mark for correctly nominating true or false, 4 marks for your explanation and diagram Answers MUST be handwritten in paper. Take a photo, scan and upload your answers at the end of the exam. Question 3: [5 marks] True/false: As more labour is added to production in the short run, marginal product will continue to increase. Explain and illustrate. Question 4: [5 marks] True/false: When someone buys a new house, AD will shift to the right. This will cause price level to rise and unemployment will decrease. Explain and illustrate
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