8.Suppose that nominal wages fall and productivity rises in a particular economy

Question

8.Suppose that nominal wages fall and productivity rises in a particular economy. Other things equal, the aggregate: A) demand curve will shift leftward. B) supply curve will shift rightward. C) supply curve will shift leftward. D) expenditures curve will shift downward. 9. The equilibrium price level and level of real output occur where: A) real output is at its highest possible level. B) export equal imports. C) the price level is at its lowest level. D) the aggregate demand and supply curves intersect.

Explanation / Answer

SOLUTION: BY SOLVING WE KNOW: ie 8. B) supply curve will shift rightward 9. D) the aggregate demand and supply curves intersect.

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