MacroeconomicsAddison-Wesley Publishing Company, 1994 - 598 ˹éÒ |
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Michael Parkin. THE DEMAND FOR LABOR FIGURE 13.4 Demand for Labor 13 Real wage rate ( 1987 dollars per hour ) a 5 ୪ C d e The Demand for Labor in a Soda Factory A soda factory employs 400 hours of labor . The additional output produced ...
Michael Parkin. THE DEMAND FOR LABOR FIGURE 13.4 Demand for Labor 13 Real wage rate ( 1987 dollars per hour ) a 5 ୪ C d e The Demand for Labor in a Soda Factory A soda factory employs 400 hours of labor . The additional output produced ...
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Michael Parkin. THE SUPPLY OF LABOR The figure shows four demand for labor curves , for 1960 , 1970 , 1980 , and 1992. Between 1960 and 1992 , the short - run aggregate production function shifted upward and the marginal product of labor ...
Michael Parkin. THE SUPPLY OF LABOR The figure shows four demand for labor curves , for 1960 , 1970 , 1980 , and 1992. Between 1960 and 1992 , the short - run aggregate production function shifted upward and the marginal product of labor ...
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... labor . As we dis- covered in Chapter 13 , the quantity of labor demanded depends on its marginal product . With a lower marginal product of labor , the demand for labor curve shifts to the left . That shift is shown in Fig . 15.5 ( b ) ...
... labor . As we dis- covered in Chapter 13 , the quantity of labor demanded depends on its marginal product . With a lower marginal product of labor , the demand for labor curve shifts to the left . That shift is shown in Fig . 15.5 ( b ) ...
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$1 trillion aggre aggregate demand curve aggregate expenditure aggregate planned expenditure aggregate supply curve amount autonomous expenditure banks billion hours business cycle capital CHAPTER consume consumption expenditure curve for real decrease deficit deposits dollars economists equal equilibrium expenditure example exports factors factors of production fall Federal Reserve Figure firms fiscal policy fluctuations forecast GDP deflator government purchases graph growth higher households labor curve labor force labor market long-run aggregate supply macroeconomic ment million tapes monetary policy money multiplier money supply money wage rate multiplier natural rate OPEC open market operation opportunity cost output Phillips curve price level production possibility frontier quantity demanded quantity of labor quantity of money quantity of real quantity supplied rational expectations Real GDP trillions real wage rate recession relationship rises short-run aggregate supply slope tapes a week taxes tion trillions of 1987 U.S. economy unem unemployment rate