Price level (GDP price index, 2009 = 100) Potential GDP AS2 ASI 0 Real GDP (trillions of 2009 dollars) The change reflected in the above figure might be a result of O a decrease in the money prices of resources other than labor. a decrease in the quantity of capital. Oa rise in the money wage rate. O a fall in the price level. an increase in the quantity of labor.
Price level (GDP price index, 2009 = 100) Potential GDP AS2 ASI 0 Real GDP (trillions of 2009 dollars) The change reflected in the above figure might be a result of O a decrease in the money prices of resources other than labor. a decrease in the quantity of capital. Oa rise in the money wage rate. O a fall in the price level. an increase in the quantity of labor.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Price level (GDP price index, 2009 = 100)
Potential
GDP
AS2
ASI
0
Real GDP (trillions of 2009 dollars)
The change reflected in the above figure might be a result of
O a decrease in the money prices of resources other than labor.
a decrease in the quantity of capital.
Oa rise in the money wage rate.
O a fall in the price level.
an increase in the quantity of labor.
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