Suppose the average U.S. worker has a large increase in productivity. What impact would this have...
Question:
Suppose the average U.S. worker has a large increase in productivity. What impact would this have on aggregate demand, short-run aggregate supply, and real GDP?
Worker:
A worker is a person who engages in different production processes and helps generate the business firm's output. A firm is mandatory to hire workers for producing goods and services. Without the services of a worker, production cannot take place.
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View this answer- The aggregate demand, aggregate supply, and the real GDP will increase.
Suppose there is a large increase in the productivity of U.S. workers. The...
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Chapter 60 / Lesson 2In economics, aggregate supply and demand are used to determine the production and purchasing power of the economy. Learn about aggregate supply and aggregate demand, and explore the details of the AS/AD model devised by John Maynard Keynes.
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