Macroeconomics: Canada in the Global Environment |
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When the labour input increases from 15 billion to 25 billion hours — an increase
of 10 billion hours — real GDP increases from $400 ... The marginal product of
labour over this range is $20 an hour ($200 billion divided by 10 billion hours).
When the labour input increases from 15 billion to 25 billion hours — an increase
of 10 billion hours — real GDP increases from $400 ... The marginal product of
labour over this range is $20 an hour ($200 billion divided by 10 billion hours).
˹éÒ 843
Wages and Employment Figure 30.8 Aggregate Supply with Flexible Wages o o
25 30 35 40 Labpur (billions of hours ... for labour curve (LD) intersects the
supply of labour curve (LS) at a real wage rate of $15 an hour and 25 billion
hours of ...
Wages and Employment Figure 30.8 Aggregate Supply with Flexible Wages o o
25 30 35 40 Labpur (billions of hours ... for labour curve (LD) intersects the
supply of labour curve (LS) at a real wage rate of $15 an hour and 25 billion
hours of ...
˹éÒ 898
Its equilibrium level is $13.00 an hour. The quantity of labour employed falls to 9
billion hours a year. In the expanding sector, the demand for labour increases
and the demand curve shifts rightward to LDQ2 in Fig. 32.11(b). The real wage
rate ...
Its equilibrium level is $13.00 an hour. The quantity of labour employed falls to 9
billion hours a year. In the expanding sector, the demand for labour increases
and the demand curve shifts rightward to LDQ2 in Fig. 32.11(b). The real wage
rate ...
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Introduction | 1 |
What Is Economics? | 5 |
Making and Using Graphs | 27 |
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aggre aggregate demand curve aggregate expenditure curve aggregate planned expenditure aggregate supply curve amount autonomous expenditure Bank of Canada billion hours billions of 1986 business cycle capital cars Chapter consumption expenditure consumption function curve for real decrease deficit deposits disposable income dollars equilibrium expenditure example expected exports factors factors of production falls Figure firms fiscal policy fluctuations GDP deflator government purchases graph growth households inflation rate investment demand curve long-run aggregate supply macroeconomic marginal propensity ment million tapes monetary policy money supply money wage rate multiplier open market operation opportunity cost output percent Phillips curve price level production possibility frontier quantity demanded quantity of labour quantity of money quantity of real quantity supplied Real GDP billions real GDP increases real interest rate real wage rate recession relationship rises short-run aggregate supply slope tapes a week taxes tion trade transfer payments unemployment rate