Suppose the economy starts off in long-run equilibrium. If the pandemic ends up immobilizing 10% of the labor force in the U. S. permanently how would this affect output and price in the short run and in the long run? Assume that people do not adjust their price expectations in the short run. Illustrate this scenario using the AD-AS model just like you did in Question 1 above, and state clearly what happens to P and Y in the short-run equilibrium, and then in the long-run equilibrium.

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Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.

%of the world's population controls approximately % of the world's finances (the sum of gross domestic products)" quizlket