Assume Japan begins with its economy running at full employment. If the Japanese government increases government expenditures the AS/AD model shows that in the short run, A. the AD curve will shift out, causing an increase in Japanese output and in the Japanese price level. B. the AS curve will shift out, causing an increase in Japanese output and in the Japanese price level. C. the AS curve will shift out, causing an increase in the Japanese price level, but not change in output. D. the AD curve will shift out, causing an increase in the Japanese price level, but not change in output.

Explain whether each of the following events increases, decreases, or has no effect on the unemployment rate and the labor-force participation rate.a. after a long search, jon finds a job.b. tyrion, a full-time college student, graduates and is immediately employed.c. after an unsuccessful job search, arya gives up looking and retires.d. daenerys quits her job to become a stay-at-home mom.e. sansa has a birthday, becomes an adult, but has no interest in working.f. jaime has a birthday, becomes an adult, and starts looking for a job.g. cersei dies while enjoying retirement.h. jorah dies working long hours at the office.

The cost of direct labor used in production is recorded as a? a. credit to work-in-process inventory account. b. credit to wages payable. c. credit to manufacturing overhead account. d. credit to wages expense.

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