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Business, 10.03.2020 00:01 Amyra2003

Draw a labor supply curve and a labor demand curve. Label them LS0 and LD0. Draw a point the equilibrium quantity of labor and the equilibrium real wage rate. Label it 1. Draw and label a curve that shows the effect of an increase in labor productivity. Draw a point at the new equilibrium quantity of labor and the equilibrium real wage rate. Label it 2. An increase in labor productivity increases potential GDP because .

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Draw a labor supply curve and a labor demand curve. Label them LS0 and LD0. Draw a point the equilib...
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