Figure 10-18
Given the shift of the aggregate demand curve from AD1 to AD2 in , the real GDP and price level (CPI) in long-run equilibrium will be
a.
$10 billion and 200.
b.
$4 billion and 150.
c.
$10 billion and 150.
d.
$10 billion and 100.
d
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Fill in the blank(s) with the appropriate word.
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A) a technological improvement that increases labor productivity B) an increase in human capital in the labor force C) an increase in the market wage rate D) an increase in the price of the firm's product
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a. natural selection b. moral hazard c. hidden actions d. external costs e. hidden characteristics
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