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- Consumer Spending increased by 5% last month. Based on this data, which of the following will likely occur in the next 3 -6 months? O GDP will increase O Unemployment will increase O The economy will enter a trough O Stagflation will occurOutput in the short run is determined by which of the following factors when an economy operates at full employment? Select one: O a. the price level O b. the labor force O supply O d. demandChanges in gross domestic product result in: deflation. an increase in frictional unemployment. O business cycle fluctuations. O a drop in the consumer price index.
- Purchases of which of the following goods would be dramatically reduced during a recession? Select one: O a. ink pens Ob. refrigerators O c gasoline O d. tomatoesThe circular flow model shows the flow of O expenditure and income throughout the economy. O only tax payments and government expenditures. O goods markets and factor markets as they move through the economy. O only money throughout the economy. O only funds in stock and bond markets.Output in the short run is determined by which of the following factors when an economy operates at full employment? Select one: O a the price level O b. demand Oc supply O d. the labor force
- t is a general belief in the United States that time is _____. an expenditure sufficeint flexible a commodityn on Oman oil is selling oil products in UAE and generating healthy income, this income is included in GDP of Oman. Select one: O True O False Increase in wages of employees reduces the supply in country. Select one: O True FalseOutput in the short run is determined by which of the following factors when an economy operates at ful! employment? Select one: a. the price level O b. the labor force C supply O d. demand
- uestion 3 How will an increase in labor productivity affect equilibrium in the labor market? O The demand for labor will decrease because fewer workers will be needed to produce the same output. The equilibrium wage and quantity of labor will decrease. O The demand for jobs will increase and the equilibrium wage and quantity of labor will increase. O The supply of labor will increase and the equilibrium wage and quantity of labor will increase. O The demand for labor will increase and the equilibrium wage and quantity of labor will increase.A person may become unemployed as a result of cutbacks in a business's production. O True FalseAn increase in investment causes the price level to O A. decrease; decrease further OB. increase; decrease O C. increase; increase further O D. decrease; increase in the short run and in the long run. ...