Increased productivity of workers in manufacturing has
A. increased employment in manufacturing.
B. increased employment in agriculture.
C. decreased employment in agriculture.
D. decreased employment in services.
E. increased employment in services.
Answer: E
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A) An increase; appreciate B) An increase; depreciate C) A decrease; appreciate D) A decrease; depreciate
Aggregate supply is upward sloping in the
a. new classical model. b. classical model. c. monetarist model. d. real business cycle models. e. both a and c.
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A. upward sloping. B. vertical at the economy's potential output. C. vertical at the economy's actual output. D. downward sloping.
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