A decrease in total factor productivity in the one-period model with lump-sum taxes, reduces consumption, increases output and reduces the real wage. reduces consumption, increases output, and increases the real wage. reduces consumption, reduces output, and reduces the real wage. increases consumption, increases output, and increases the real wage.

A decrease in total factor productivity in the one-period model with lump-sum taxes, reduces consumption, increases output and reduces the real wage. reduces consumption, increases output, and increases the real wage. reduces consumption, reduces output, and reduces the real wage. increases consumption, increases output, and increases the real wage.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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