Part 3 - Making Connections - Use the information from the March 2019 Forbes article to answer the questions "African economies are primed to be ranked among the fastest growing in the world in 2019. According to the International Monetary Fund (IMF), projections for the region's economic growth next year has been bumped up to 3.5% - 4% from earlier projections of 3% growth . If you set aside Angola , Nigeria ,and South Africa , the region's projected growth rate jumps to 57%. Among those nations primed for growth is Zambia ,which thanks to the steady rebound of commodity prices , an improvement in the global economy and improved capital market access , enjoyed 5% growth in the third quarter of 2018 . up a half -point from a year earlier The highest ination rate of 2018 was recorded at 8.3% in October ..." 8. According to this article excerpt ,is the Zambian economy most likely experiencing a positive output gap or a negative output gap? Use evidence from the excerpt to support your conclusion 9. What will happen to nominal wages in Zambia the short run? Explain . 10. What will happen to nominal wages in Zambia in the long -run ? Explain 11.What will happen to real wages if nominal wages increase 12 \"/0 and inflation continues to be at 8%? Explain 12. Draw a correctly labeled AS [AD model with AD, SRAS , and LRAS curves representing the Zambia economy with the output gap you identied in question #8. Label the price level , PL 1, and output level ,Y1 and full employment output , Y . F 13.Assume that wages and resource prices adjust in the long -run . Draw the change that occurs on the graph and label the price level , PL2 and output level ,YZ. 14.Assume instead that Zambia experiences a signicant increase in investment and capital stock. How would this affect the LRAS ? Explain