Potential AS Potential GDP, GDP2 AS2 Real GDP (trillions of 2012 dollars) he change in potential real GDP and aggregate supply shown in the graph above can b esult of O a. an increase in the real wage rate. O b. a decrease in the money price of oil. O C. an increase in the quantity of capital. O d. a decrease in the money wage rate.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Price level (GDP price index, 2012 = 100)
Potential
Potential
GDP,
AS,
GDP2
AS2
Real GDP (trillions of 2012 dollars)
Transcribed Image Text:Price level (GDP price index, 2012 = 100) Potential Potential GDP, AS, GDP2 AS2 Real GDP (trillions of 2012 dollars)
Price level (GDP price index, 2012 = 100)
Potential
Potential
AS,
GDP,
GDP2
AS2
Real GDP (trillions of 2012 dollars)
The change in potential real GDP and aggregate supply shown in the graph above can be a
result of
an increase in the real wage rate.
O a.
O b.
a decrease in the money price of oil.
OC.
an increase in the quantity of capital.
O d.
a decrease in the money wage rate.
e.
a fall in the price level.
Transcribed Image Text:Price level (GDP price index, 2012 = 100) Potential Potential AS, GDP, GDP2 AS2 Real GDP (trillions of 2012 dollars) The change in potential real GDP and aggregate supply shown in the graph above can be a result of an increase in the real wage rate. O a. O b. a decrease in the money price of oil. OC. an increase in the quantity of capital. O d. a decrease in the money wage rate. e. a fall in the price level.
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