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.
Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Economic Fluctuations, Unemployment, And Inflation
Section: Chapter Questions
Problem 14CQ
Question
None
![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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc89bcf47-258e-4996-b605-fb1b6c616974%2Fa2203a2f-1a96-447f-bc70-986296c98a03%2Fk85sk1a_processed.jpeg&w=3840&q=75)
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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