The tables above show a nation's labor demand and labor supply schedules and its production function. The equilibrium real wage rate is ________ and the equilibrium quantity of labor is ________ billion hours per year

Eliminating structural unemployment would be good for the economy

Indicate whether the statement is true or false

The impact of Hurricane Katrina on consumers in the economy was to make them very pessimistic about their future incomes. How does this increased pessimism affect the aggregate demand curve?

A) This will move the economy down along a stationary aggregate demand curve. B) This will shift the aggregate demand curve to the left. C) This will shift the aggregate demand curve to the right. D) This will move the economy up along a stationary aggregate demand curve.