In the Fooling Model,suppose That from an Initial AD/SAS/LAS Equilibrium

question 97

Multiple Choice

In the fooling model,suppose that from an initial AD/SAS/LAS equilibrium a sudden expansion of aggregate demand occurs.With fooling,we would find employment and the actual real wage in the labor market diagram by moving

• A)"northeast" along the labor supply curve.
• B)"northwest" along the labor demand curve.
• C)"southeast" along the labor demand curve.
• D)"southwest" along the labor supply curve.

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Definitions:

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A measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

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The probability of rejecting the null hypothesis in a statistical test when it is true; a measure of how stringent the test is.

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