By looking at the graphs showing the impact of a positive supply shock on aggregate demand and aggregate supply and on the Phillips curve, we can see that a positive supply shock would ______.
a. increase price levels and RGDP, but decrease inflation rates and unemployment rates
b. increase price levels, RGDP, inflation rates, and unemployment rates
c. decrease price levels, RGDP, inflation rates, and unemployment rates
d. decrease price levels, inflation rates, and unemployment rates, but increase RGDP
d. decrease price levels, inflation rates, and unemployment rates, but increase RGDP
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Discouraged workers
A) are considered part of the unemployed because they are not working. B) are not considered part of the unemployed because they quit their jobs voluntarily. C) are not considered part of the unemployed because they are not actively seeking work. D) are considered part of the unemployed because they are still in the labor force.
From 2015 to 2016, the overall price level rose from 200 to 220. Over the same period, tuition rates at the local community college rose from $100 to $115 per credit hour. What can be concluded from the rise in tuition relative to overall inflation?
a. Tuition rates increased at the same rate as inflation. b. Tuition rates increased at a slower rate than inflation. c. Tuition rates increased at a faster rate than inflation. d. Tuition rates and inflation cannot be compared with the numbers given.