Price level (GDP deflator, 2000 = 100) %3D Potential AS2 GDP ASI Real GDP (trillions of 2000 dollars) The change reflected in the above figure might be a result of O a fall in the price level. a rise in the nominal wage. an increase in the quantity of labor. a decrease in the money prices of resources other than labor. O a decrease in the quantity of capital.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Price level (GDP deflator, 2000 = 100)
Potential
AS2
GDP
AS,
Real GDP (trillions of 2000 dollars)
The change reflected in the above figure might be a result of
a fall in the price level.
a rise in the nominal wage.
an increase in the quantity of labor.
a decrease in the money prices of resources other than labor.
O a decrease in the quantity of capital.
Transcribed Image Text:Price level (GDP deflator, 2000 = 100) Potential AS2 GDP AS, Real GDP (trillions of 2000 dollars) The change reflected in the above figure might be a result of a fall in the price level. a rise in the nominal wage. an increase in the quantity of labor. a decrease in the money prices of resources other than labor. O a decrease in the quantity of capital.
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