A The old price level still remains unchanged. Which of the below graphs is the correctdepiction of the change in the previous two questions?PP(b)(a)PAS AS1ASASOPPYB YA(c)PYPYC➡YD Y(d)PAD1ADOADOADYF YEYYGYHY-B Which points (or what distance) demonstrate the disequilibriumbetween the expenditure and output on the graph you chose?C Now the markets suggest a new price level at which output will equalexpenditure. Graph an AS/AD and in it show with an arrow how the realbalances effect, the interest rate effect, and the foreign effect will adjust theprice level to match expenditure to output.D Now on a separate graph show how the worker cost effect will drive firms to hire or fireworkers so that their output matches the expenditure.

Let's dissect each section of your queries:A. Based only on the description supplied, it is…

Answered: A The old price level still remains…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Table 24-5The table below pertains to Wrexington, an economy in which the typical consumer’s basket consists of 20 pounds of meat and 10 toys. Year Price ofMeat Price of aToy 2004 $3 per pound $2 2005 $1 per pound $7 2006 $4 per pound $5 Refer to Table 24-5. The cost of the basket Group of answer choices increased from 2004 to 2005 and increased from 2005 to 2006. increased from 2004 to 2005 and decreased from 2005 to 2006. decreased from 2004 to 2005 and increased from 2005 to 2006. decreased from 2004 to 2005 and decreased from 2005 to 2006.
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