Please answer these questions.

4 years. 18 years. 24 years. 36 years. D Question 13 Panel (a) Panel (b) Panel (c) PF LRAS, LRAS, Y2 PF, Price level Real GDP per year Real wage L, LZ Y, Y2 Employment (quantity per year) Employment (quantity per year) Real GDP per year What is the most likely cause of this situation? Workers acquiring new skills and training An accounting change that favors capital over labor An increase in the labor participation rate An increase in immigration D Question 14 14 MAR 23 . tv O ul T MacBook Prodecreases in the supply of labor. reductions in the demand for labor. D Question 11 Exhibit: Economics Growth and the LRAS Curve LRASS LRAS1 LRASA LRAS2 Price level Y3 Real GDP per year Exponential economic growth can be depicted by a series of leftward shifts by constant amounts of the LRAS a series of rightward shifts by constant amounts of the LRAS shifts in the LRAS curve to the right in which the successive increases are larger and larger. shifts in the LRAS curve to the left in which the successive decreases are larger and larger. D Question 12 If population increases at an average rate of 1% per year and output increases at an average rate of MAR 1 23 tvBookmarks Window Help finlandia.instructure.com Dashboard - Binance US Course Hero D Question 1 1 pts The position of the long-run aggregate supply curve is determined by the aggregate production function and the demand and supply curves for labor. True False Question 2 1 pts A change in the supply of labor will shift the long-run aggregate supply curve. O True OFalse D Question 3 1 pts If the production possibilities curve shifts outward, the long-run aggregate supply curve will shift rightward. True -False 1 pts D Question 4 14 MAR W 23 MacBook Pro 388 @ & # 9 N 5 8story Bookmarks Window Help finlandia.instructure.com er 23) Dashboard - Binance US Course Hero D Question 4 All other things unchanged, higher saving rates contribute to higher rates of capital formation. O True False D Question 5 According to the rule of 72, a 12% annual increase in real GDP would lead to a doubling of real GDP in 8 years. O . True False D Question 6 The skills, training, and education possessed by workers contribute to economic growth by increasing saving. by increasing the quality of labor. by increasing the quantity of labor. by increasing real wages. 14 MAR 23 O ul TABookmarks Window Help finlandia.instructure.com C Dashboard - Binance US Course Hero D Question 7 2 pts All other things unchanged, which of the following events leads to a shift further outward in the country's production possibility curve? Its labor force participation rate decreases by 5% per year compared to 3% per year. Its saving rate falls from 8% to 1% per year. Government expenditures on basic research increases by 10% per year. The number of students completing college education falls. D Question 8 2 pt Which of the following events would be most likely to increase an economy's potential output a tax increase an increase in transfer payments by the government an improvement in technology O an increase in net exports 2 pts D Question 9 During the industrial revolution (the period between the Civil War and World War I), the United States had a massive influx of working age immigrants. What happens in the labor market? MAR 23 J . tv O ul TA W MacBook ProBookmarks Window Help finlandia.instructure.com C Dashboard - Binance US an increase in transfer payments by the government *Course Hero an improvement in technology an increase in net exports D Question 9 During the industrial revolution (the period between the Civil War and World War I), the United States had a massive influx of working age immigrants. What happens in the labor market ? The supply of labor curve shifts to the right. The demand for labor curve shifts to the right. The supply of labor and the demand for labor curves shift to the right. There will be an upward movement along the labor supply curve. D Question 10 2 p Shifts to the right in the long-run aggregate supply curve are the result of upward shifts in the production function. increases in aggregate demand. decreases in the supply of labor. reductions in the demand for labor. 14 MAR 23 MacBook Pro