Consider the Following News Headline: "World Commodity Prices Rise Sharply

question 35

Multiple Choice

Consider the following news headline: "World commodity prices rise sharply." Choose the statement below that best describes the likely macroeconomic effects in Canada. (Remember that Canada is both a producer and a consumer of commodities.)

• A)the AD curve shifts to the left and the AS curve shifts to the right; the price level falls and the effect on real GDP is indeterminate
• B)there is no change in either the AD or the AS curves
• C)the AD and AS curves both shift to the left; the effect on the price level is indeterminate and real GDP decreases
• D)the AD and AS curves both shift to the right; the effect on the price level is indeterminate and real GDP increases
• E)the AD curve shifts to the right and the AS curve shifts to the left; the price level rises and the effect on real GDP is indeterminate

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Definitions:

Widows

Women whose spouses have died and who have not remarried, often facing specific social, economic, and emotional challenges.

Submerged Aspects

The parts of oneself or a situation that are not immediately visible or recognized, often holding significant influence despite being overlooked.

Life Expectancy

Age to which a person in a particular cohort is statistically likely to live (given his or her current age and health status), on the basis of average longevity of a population.

Suicide

The act of intentionally causing one's own death.