Along the long-run Phillips curve, the value of _____ remains constant

If 1 - b = WN/PY where W is the nominal wage rate, N is the quantity of labor input, and PY is total income in nominal terms, then labor's share of national income shrinks if

A) (w - p) > (y - n). B) (w - p) < (y - n). C) (w - n) > (y - p). D) (w - n) < (y - p).

According to the new classical theory, a monetary surprise will

a. shift the labor supply curve to the right in the short run. b. shift the labor supply curve to the left in the short run. c. not shift the labor supply curve in the short run. d. shift the aggregate supply curve to the left in the short run. e. shift the aggregate supply curve to the right in the short run.