If the growth rate of the labor force is 2 percent and the growth rate of produc

Question

If the growth rate of the labor force is 2 percent and the growth rate of productivity is 1.5 percent, then the growth rate 3.5 percent. 0.5 percent. 0.75 percent. 1.33 percent. Supply-side policy is designed to: Move the economy from a point inside the production possibilities curve to a point on the curve and shift the aggregate Move the economy from a point inside the production possibilities curve to a point on the curve and shift the aggregate right. Shift the production possibilities curve outward and shift the aggregate supply curve to the left. Shift the production possibilities curve outward and shift the aggregate supply curve to the right. External shocks can: Be predicted using standard statistical techniques. Cause economic forecasts based on leading economic indicators to become invalid. Improve the validity of economic forecasts based on loading economic indicators. Assist the Fed with the implementation of monetary policy.

Explanation / Answer

5)

Growth =labor force growth + productivity=2%+1.5%=3.5%

we do only first one question as per chegg

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