Which of the following will not result in a rightward shift of the market supply curve for labor?
a. an increase in immigration
b. an increase in labor productivity
c. an increase in the working-age population
d. a decrease in nonwage income
b
Economics
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If real GDP is greater than potential GDP, then to restore equilibrium, ________ and the price level ________
A) the aggregate supply curve shifts rightward; falls B) the aggregate demand curve shifts leftward; rises C) the aggregate supply curve shifts leftward; rises D) the aggregate demand curve shifts rightward; falls E) potential GDP increases; falls
Economics
Why is the price elasticity of supply greater if there is more time for adjustment to an increase in the price of an item?
What will be an ideal response?
Economics