In Response to an Increase in the Population and the Labor

question 37

Multiple Choice

In response to an increase in the population and the labor force,we would expect

• A)both the short run and long run Phillips curve to shift to the right.
• B)the short run Phillips curve remains unchanged while the long run Phillips curve shifts to the right.
• C)the long run Phillips curve remains unchanged while the short run Phillips curve shifts to the right.
• D)both the short run and long run Phillips curve to shift to the left.
• E)none of the above.

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Definitions:

Residual Value

Residual value is the estimated value of an asset at the end of its useful life, reflecting what it could be sold for or its salvage value.

Fixed-Percentage Method

The Fixed-Percentage Method is a depreciation technique where a constant percentage of the asset's book value is depreciated each year, resulting in decreasing annual depreciation expenses.

Residual Value

The estimated amount that an asset is expected to realize upon its disposal at the end of its useful life.

Annual Depreciation

The portion of the total cost of a tangible asset that is expensed each year over its useful life.