The Model of Aggregate Demand and Long-Run Aggregate Supply Predicts

question 75

Multiple Choice

The model of aggregate demand and long-run aggregate supply predicts that, all other things unchanged, improved technology will

• A) reduce employment.
• B) lower real wages.
• C) increase the demand for labor and boost real wages.
• D) increase the supply of labor and boost real wages.

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Definitions:

Less Than

A mathematical term indicating that one quantity or number is smaller than another.

Z-scores

An analytical metric indicating the proximity of a particular value to the average value in a dataset, quantified by the number of standard deviations separating it from the mean.

Standard Normal Distribution

A standard normal distribution characterized by a mean equal to zero and a standard deviation equal to one.

Greater Than

A mathematical symbol (>) indicating that one value is larger or more than another value.