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Now suppose the economy moves to Point B on the graph. Which of the following expressions is most likely to represent the new Real GDP?
Now suppose the economy moves to Point B on the graph. Which of the following expressions is most likely to represent the new Real GDP? Q2=0.5 (3, 5) Q2=0.4 (4, 5) Q2=0.5 (4, 6) Q2=0.5 (8, 5) Which of the following could plausibly cause the change you just observed? Advances in technology A fall in interest rates A fall in labor taxes A rise in labor taxes The following graph shows the long-run aggregate supply (LRAS ) curve of the economy when it is operating at Point A. If the change previously identified affects the LRAS curve, shift the curve in the correct direction to reflect this change. LRAS PRICE LEVEL Real GDP (Q) LRAS
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