Which of the following does not affect long-run aggregate supply?
a. A change in labor force participation,
b. An outward movement of aggregate demand,
c. A negative trend in labor productivity,
d. An increase in the marginal tax rates on wages,
e. A new provision of government benefits that affect household incentives.
The discipline of Economics can be divided into Microeconomics and Macroeconomics. Macroeconomics is mainly concerned with studying the economy as a whole: Instead of focusing on the supply and demand in individual markets, it considers these dynamics on an aggregate basis.
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fromChapter 4 / Lesson 9
Understand the definition of macroeconomics and what macroeconomics focuses on. Learn the principles of macroeconomics, including economic output, economic growth, unemployment, inflation and deflation, and investment.