What Would Happen to the Price Level,real Output,and Unemployment in the Short

question 152

Short Answer

What would happen to the price level,real output,and unemployment in the short run if world oil prices rose sharply?

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Definitions:

Memorandum Entry

This refers to a journal entry made in the financial records to note a significant event or transaction that doesn’t involve a direct exchange of cash or value and hence does not affect the financial statements directly.

Stock Option Plan

A compensation strategy that allows employees to purchase company stock at a predetermined price.

Liability Account

An account used in accounting to keep track of obligations or debts that a company owes to others, representing claims against the company's assets by external parties.

Stock Option Plans

Programs established by companies to give employees the right to purchase a specific number of the company's shares at a fixed price for a certain period of time.