Lesson The basics of economic growth ( can you please briefly interpret analyze and illustrate what each chart is predicting) ....explain what's happening in each chart, what is increasing or decreasing, what's the purpose of the change, what might be the reason. please specify what chart you are explaining

Growth of the supply of labor FIGURE 23.7 The Effects of an Increase in Population 60 1SO Effect of increase in SO population Real wage rate (2005 dollars per hour] 35 Real wage rate falls 25 *LD 10 Aggregate labor hours Increase 100 200 300 400 500 Labor (billions of hours per year) (a) The labor market - PF Real GDP (trillions of 2005 dollars) 13 Potential GDP increases 10 O 100 200 300 400 500 Labor (billions of hours per year) (b) Potential GDPGrowth of Labor Productivity FIGURE 23.8 The Effects of an Increase in Labor Productivity Potential GDP PF1 increases 19 C 18 PFo Real GDP trillions of 2005 dollars per year) 13 An increase in labor productivity shifts the 10 PF upward .. . O 100 200 225 300 400 500 Labor (billions of hours per year) (a) Potential GDP 60 -.. and increases the 50 demand for labor 45 Real wage rate [2005 dollars per hour) 40 35 30 Real wage rises 20 LD LDo 10 Aggregate labor hours increase 100 200 225 300 400 500 Labor (billions of hours per year) (b) The labor marketFIGURE 23.6 The Labor Market and Potential GDP 60 50 Real wage rate (2005 dollars per hour) Labor market 35 equilibrium 20 ID 10 100 200 300 400 500 Labor (billions of hours per year) (a) The labor market PF Potential 15 GDP Real GDP (trillions of 2005 dollars] 13 10 Full-employment quantity of labor 100 200 300 400 500 Labor (billions of hours per year)