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If Woolworths increases the price it charges for a loaf of bread soon after Coles does, then this is

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An example of monopolistic competition and product differentiation

An example of an oligopoly market structure and mutual interdependence

An example of a monopoly because there is no difference between the two supermarkets

An example of perfect competition and a homogeneous product

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Which of the following would not shift the aggregate demand (AD) curve for an economy?

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A change in the aggregate price level

An increase in consumption

A decrease in government spending

An increase in exports

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Frictional unemployment in an economy refers to

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Long term unemployment caused by the business cycle

Short term unemployment caused by workers moving between jobs

Unemployment caused by workers not having the required skills, education or training

Unemployment caused by the ups and downs of the business cycle

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Cost push inflation refers to a

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Rise in prices because of a left shift in the aggregate demand curve

Fall in prices due to decreased unemployment in a recession

Rise in prices resulting from an excess of total spending (demand) over supply

Rise in prices resulting from an increase in the cost of production, irrespective of demand conditions

Answer 1

Answer 5 - correct option is D

Reason - There is a cut throat competition is perfectly competitive market if the price is increased of one product which is homogeneous then the price of other products will also be increased and vice versa

Answer 8 - correct option is D

Reason - an increase in export will have no effect on aggregate demand curve of the economy . A decrease in government spending will have negative impact on Aggregate demand curve. A change in price level will make aggregate demand shift leftward or rightward as the case may be. An increase in consumption will make aggregate demand curve shift rightward.

Answer 9- correct option Is B

Reason - frictional unemployment occurs when workers are searching for job transitioning frkm one job to another causing short term unemployment

Answer 10- correct option is D

Reason - cost push inflation occurs when there id rise in the higher cost of production due to ehich price level increases