as the slope of the aggregate supply curve increase, this indicates that; a. inflation will be less ofa problem b. the economy is getting close to potential GDP c. output is falling d.the economy is reducing employment

as the slope of the aggregate supply curve increase, this indicates that; a. inflation will be less ofa problem b. the economy is getting close to potential GDP c. output is falling d.the economy is reducing employment

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter17: The Trade-off Between Inflation And Unemploy

Section: Chapter Questions

Problem 1TY

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Concept explainers

Unemployment and Cost of Unemployment

Unemployment is the state of being unemployed, even when an individual is actively seeking work opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed.

Question

as the slope of the aggregate supply curve increase, this indicates that;

a. inflation will be less ofa problem

b. the economy is getting close to potential GDP

c. output is falling

d.the economy is reducing employment

Definition Definition Total supply of goods and services in an economy at a certain price level in a specific time period.

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