After an unexpected in the price of oil, the long-run adjustment decreases the price level and the unemployment rate as they return to their original levels.

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18-08-2022
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After an unexpected in the price of oil, the long-run adjustment decreases the price level and the unemployment rate as they return to their original levels.

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adioabiola adioabiola · Answer 1 · 2022-08-24T01:38:49+02:00

After an unexpected increase in the price of oil, the long-run adjustment decreases the price level and decreases the unemployment rate as they return to their original levels.

What is unemployment?

Unemployment simply means the state or condition of one being unemployed or not having a job.

So therefore, after an unexpected increase in the price of oil, the long-run adjustment decreases the price level and decreases the unemployment rate as they return to their original levels.

Learn more about unemployment:

https://brainly.com/question/13280244

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ogorwyne ogorwyne · Answer 2 · 2022-08-24T01:39:57+02:00

After an unexpected decrease in the price of oil, the long-run adjustment decreases the price level and decreases the unemployment rate as they return to their original levels.

What happens when there is a decrease in the general price level?

When there is a fall in the general price level, there would also be seen in the given economy certain issues that may not be good for the economy. This may be that the economy may experience they issues.

For instance a fall in the oil price would lead to deflation in the economy hence there is decrease in the rate of unemployment in the economy.

Read more on price level here: https://brainly.com/question/20397081

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After an unexpected ________ in the price of oil, the long-run adjustment decreases the price level and ________ the unemployment rate as they return to their original levels.

Respuesta :

What is unemployment?

What happens when there is a decrease in the general price level?

Otras preguntas

After an unexpected in the price of oil, the long-run adjustment decreases the price level and the unemployment rate as they return to their original levels.