If equilibrium GDP is below potential, then
a. unemployment is unusually low
b. the Fed will lower the money supply
c. the wage rate will fall as workers compete for scarce jobs
d. the aggregate supply curve will shift leftward
e. the wage rate will remain stable as labor productivity increases
C
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How can economists be confident that the pill itself is responsible for the increases in female labor force participation?
A. States that legalized the pill earlier also had earlier increases in female labor force participation. B. Starting from 1960, the year the pill was approved for sale, female labor force participation has been rising. C. States that legalized different versions of the pill had different patterns of female labor force participation. D. It seems to be common sense that delaying childbearing would increase labor force participation.
A change in tastes for U.S. produced goods will
A) shift both the aggregate demand curve and the long-run aggregate supply curve. B) shift the aggregate demand curve. C) shift the short-run aggregate supply curve. D) shift the long-run aggregate supply curve.