Answer Happy

5. We are nga tabor shortage as some argue) due to increased unemployment befits On a D/S graph, what initial effect is causing the shortage? And what should happen to hrum price retu? 6 Based on March 2021 data, the state of illinois had 435 203 unemployed, 5.694,423 employed, and 3,788.862 not in the labor force. To one decimal place calculate the unemployment rate and the labor force participation rate 4500 7. Given the basket costs below, calculate CPI for 2020 to two decimals: 2018: $4000 2019: $4500 (base) 2020: S50000 5,600 •100 =90 8. Elon cashes in some of his Tesla stock for cash. How does this affect GDP? 9. Which of the following affects AS but not LRAS? Circle any that apply. Increase in oil price Drilling for new oil Hurricane Katrina Wages decrease Steel prices decrease
10. Refer to the graph on page 7. What would be the number of imports after a tariff of Ss where world price is $10 Coffee Price $4 S6 Year 2020 (base) 2021 Coffee aty 100 120 Water Price $3 SS Water aty 100 200 11. Using the table, calculate Real GDP for 2021 assuming all are final goods. + (4-120)+(3-200) - 1030 12. Explain one reason that the CPI is biased in measuring standard of living, it helps Lihat the average US understand Consomer purchases 13. What would the FED need to do to the interest on reserve balances in order to increase the Federal Funds Rate? people to FER lower them, driving more 14. Between expanded unemployment payments and the "Stimmy", people are finding themselves saving more money than before. What is the initial effect of this increased saving in the market for loanable funds? What happens to interest rate?