- If the Money Wage Rate and the Price Level Both

question 59

Multiple Choice

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If the money wage rate and the price level both rise by the same proportion, then in the figure above the potential GDP line _{--------------------} , and the aggregate supply curve _{--------------------} .

• A)does not shift; shifts rightward
• B)shifts rightward; does not shift
• C)does not shift; shifts leftward
• D)shifts rightward; shifts leftward
• E)shifts rightward; shifts rightward

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Definitions:

Mean Absolute Deviation

A statistical measure of the average absolute deviations from a dataset's mean, indicating variability within the data.

Actual Sales

The real or recorded number of sales transactions completed within a given period.

Forecasts

Predictions about future conditions or occurrences, often based on analysis of trends and data.

Technological Progress

Refers to the improvements and innovations in technology that enhance efficiency, productivity, and quality in various fields.