Suppose that because of uncertainty in the economy, employers cut back on hirings with the result that the demand for labour falls by 1.50 (million) workers. a. Draw the new labour demand curve, labelled D2, on the graph above. Plot only the endpoints of the line above. b. If the wage rate does not change, how much unemployment would there be in Lumberland? Round your answer to 2 decimal places million c. If the wage rate does adjust, what will be the new equilibrium wage and number of employed workers? Round your answer to 21 decimal places. Wage rate: $ Quantity of labour: million

A32. With reference to the economy, Uniform Recall Period, Mixed Recall Period and Modified Mixed Recall Period are methods used to measure (a) Poverty Line (b) Extent of Human development (c) Impact of industries on climate change (d) Working age population ratio

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10 co Interest Rate (%) N B Investment Demand O E 0 $30 60 90 120 150 Investment ($) Price Level 0 AS Q₁ Real GDP ($) AD, (I=120) -AD₂ (I=90) *AD, (I=60) Refer to the above graphs, in which the numbers in parentheses near the AD₁, AD2, and AD3 labels indicate the level of investment spending associated with each curve, respectively. All numbers are in billions of dollars. The interest rate and the level of investment spending in the economy are at point C on the investment demand curve. To achieve the long-run goal of a noninflationary full-employment output Qf in the economy, the Fed should: decrease aggregate demand by increasing the interest rate. make no change in the interest rate. increase aggregate demand by decreasing the interest rate. increase aggregate demand by increasing the interest rate.