Answer:
D) The discovery of oil reserves has resulted in a rightward shift of the long-run aggregate supply curve.
Explanation:
Since the discovery of oil, Almora's gross domestic product will start to grow (both nominal and real GDP). Since the aggregate supply exceeds the real GDP, it is reasonable to expect that the GDP will continue its expansion for several years. The only factor that can diminish economic expectations is that inflation increases so much that it will end up hurting the economy.
Having huge oil reserves doesn't mean that the standard of living has improved. Just look at Qatar, United Arab Emirates, Saudi Arabia, etc. The populations of these countries is either extremely rich or very poor. Or we can look at Venezuela and realize that everyone that doesn't work for the government is poor.
This scenario usually repeats in countries that rely only on natural resources.
If the united states government lowers the income taxes on the wealthiest americans, while decreasing welfare payments to the poorest americans, the result will likely be <u>increase</u><u> in</u>efficiency and in <u>inequality</u> in the united states
<h3>What is equality?</h3>
Equality can be defined as the way in which wealth or income are distributed equally or when their is equal wealth distribution in a society.
If the united state of America intend to reduce the income taxes of the richest people and reducing the poor people welfare payment the outcome of this action is that it will lead to inefficiency while increase equality or reducing inequality.
Therefore the result will likely be <u>increase </u>efficiency and in <u>equality</u> in the united states
Learn more about Equality here: brainly.com/question/1296408
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O too have hundreds of thousands of people all over the world. But as my Mom used to say, we do not care "two hills ...
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