Question: How do i answer this in proffesional way ? Oil prices climbed on Wednesday, supported by a reported draw in U.S. crude inventories and by

How do i answer this in proffesional way ?

Oil prices climbed on Wednesday, supported by a reported draw in U.S. crude inventories and by firm import data from Japan. U.S. West Texas Intermediate (WTI) crude futures were up 1.79 percent, or 79 cents, at $44.84 a barrel at 0027 GMT, buoyed by a contractual rollover into higher-demand November as a frontmonth. Traders said that the main WTI price driver had been American Petroleum Institute data showing a 7.5-million barrel draw to 507.2 million barrels in U.S. crude inventories, the third weekly stock draw. International benchmark Brent crude oil futures were trading at $46.46 per barrel, up 58 cents, or 1.26 percent, from their last close.

a) A rise in the oil price in Japan will lead to what type of inflation? Discuss the impact of higher oil price on Japan's economy using AD-AS model. Begin the analysis with the assumption that the Japan economy is at full employment.

b) Identify the types of unemployment that the business sector in the economy will suffer due to an increase in the oil price.

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