If the Productivity of Labor Were Suddenly to Increase,we Would

question 40

Multiple Choice

If the productivity of labor were suddenly to increase,we would expect to observe

• A)a short-run rise in output and fall in prices.
• B)an increase in the natural level of real GDP.
• C)a downward shift in the aggregate supply curve.
• D)All of the above are correct.

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Definitions:

Theran Paintings

Wall paintings from the ancient city of Akrotiri on the island of Thera (Santorini), showcasing sophisticated frescoes with naturalistic motifs and figures.

Marble Figurines

Small, carved statues typically made from marble, representing human or mythological forms, often found in ancient Mediterranean cultures.

Cyclades

A group of islands in the Aegean Sea, significant in ancient Greek history and archaeology for their early Cycladic civilization.

Crete

An island in the Mediterranean Sea, significant for its role in the development of the ancient Minoan civilization.