Draw an IS-LM model in general equilibrium. Show the effect of anincrease in marginal product of labor (positive productivity shock.) Showboth short run and long run equilibrium and effects..
Draw an IS-LM model in general equilibrium. Show the effect of anincrease in marginal product of labor (positive productivity shock.) Showboth short run and long run equilibrium and effects..
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
Problem 5P
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Draw an IS-LM model in general equilibrium. Show the effect of an
increase in marginal product of labor (positive productivity shock.) Show
both short run and long run equilibrium and effects..
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