Examlex
Aggregate demand and supply curves have been widely used to analyze the performance of the macroeconomy.Figure 5-3 shows four diagrams that represent different changes in the macroeconomy.Choose the diagram that best represents the situations described in the following questions.
Figure 5-3
-Which graph in Figure 5-3 best represents the supply-side shock of the 1970s oil crisis?
Unemployed Workers
Individuals who are without a job but are actively seeking employment.
Sectoral Shifts
Changes in economic activity or labor market demand across different sectors or industries over time.
Temporarily Cause Unemployment
Situations or policies that lead to a short-term increase in unemployment, as workers transition between jobs or industries adjust to new conditions.
Sectoral Shifts
Changes in the economic landscape that cause resources (like labor) to move from one industry or sector to another, often due to technological changes or globalization.
Q23: If wages rise by 12 percent at
Q29: Business cycles are a persistent feature of
Q33: Productivity levels in rich countries are:<br>A)higher than
Q49: In fiscal year 2014, the U.S.federal budget
Q51: Production for war and environmental clean-up services
Q56: To economists, investment means buying stocks and
Q71: If the labor force grows faster than
Q72: Why do environmentalists worry about faster economic
Q88: It is not optimal to have equal
Q200: Macroeconomists are distinguished from microeconomists because macroeconomists