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Figure 8-5 Panel (A) Shows an Economy's Aggregate Production

Question 62

Multiple Choice

Figure 8-5 Figure 8-5 Panel (a) shows an economy's aggregate production function, Panel (b) shows the labor market and Panel (c) shows the economy's long-run aggregate supply curve. -Refer to Figure 8-5. If a change in technology moves the aggregate production function upward, A) the demand for labor will remain the same. B) the demand for labor falls. C) the demand for labor increases. D) the demand and supply of labor will increase. Panel (a) shows an economy's aggregate production function, Panel (b) shows the labor market and Panel (c) shows the economy's long-run aggregate supply curve.
-Refer to Figure 8-5. If a change in technology moves the aggregate production function upward,


A) the demand for labor will remain the same.
B) the demand for labor falls.
C) the demand for labor increases.
D) the demand and supply of labor will increase.

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