If a pill were invented that made workers twice as productive but their wages did not change,

Question:

If a pill were invented that made workers twice as productive but their wages did not change, what would happen to the position of the short-run aggregate supply curve?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Economics of Money, Banking and Financial Markets

ISBN: 978-0321598905

9th Edition

Authors: Frederic S. Mishkin

See More Books

Question Posted: Aug 12, 2012 04:34 AM

See More Questions

What would happen to the dissolved load of a stream if the velocity decreased?
What would happen to the dark reactions and why if: P700 was defective, a poison bound and inhibited the ATP synthase, the cytochrome complex was denfensive, no oxygen present, RuBP carboxylase was...
What would happen to individual Canadian consumers or Canadian corporations who consistently spent more money than they earned?
Figure shows three rotating, uniform disks that are coupled by belts. One belt runs around the rims of disks A and C. Another belt runs around a central hub on disk A and the rim of disk B. The belts...
Yk = q0 + q1k + q2k2 + Zk, Where q 0 + q 1 k + q 2 k 2 is an unknown quadratic function of k and Z k is a sequence of iid Gaussian (0,1) noise random variables. We wish to estimate the unknown...
Consider a system $A \cup B$, with total Hamiltonian diagonalized by states $|1angle_{A} \otimes|1angle_{B},|2angle_{A} \otimes$ \(|2angle_{B},|3angle_{A} \otimes|4angle_{B},|4angle_{A}...
An oil preheater consists of a single tube of $10-\mathrm{mm}$ diameter and 5-m length, with its surface maintained at $180^{\circ} \mathrm{C}$ by swirling combustion gases. The engine oil (new)...
Purchasing a large oven and related equipment for mixing and baking crazy bread is being considered by Perottis Pizza. The oven and equipment would cost $120,000 delivered and installed. It would be...
A company has a policy "investigate all variances exceeding $3,000 or 15% of the budgeted cost, whichever is lower." There is a variance of $2,000 in repair and maintenance costs of $12,000. What...
1. Based on their home country, how might the organizational cultures of the four companies mentioned be distinct from one another, and in what ways could they be the same? 2. If the first two...
Profit-maximizing behavior on the part of firms explains why the short-run aggregate supply curve is upward-sloping. Is this statement true, false, or uncertain? Explain your answer.
When aggregate output is below the natural rate level, what will happen to the price level over time if the aggregate demand curve remains unchanged? Why?
Prepare a budget for a family of four with an annual income of $\$ 250,000$.
Explain a benefit found from the use of abstractions in the Internet of Things. (1 point) Complex systems run faster when they are using abstractions, so they are more efficient. Users are exposed to...
Explain the difference between intrinsically motivated behavior and extrinsically motivated behavior?
What are the common sources of contemporary work stress? explain
The most recent financial statements for Bello, Inc., are shown here: Balance Sheet Debt Equity Income Statement Sales Costs Taxable income $38,600 Assets $140,000 26,500 $ 12,100 Total $140,000...
What is the output produced by the following code? int a=2, b=4; for (int i=0; i <9; i++) a+= 2; b+= 4; System.out.println(a+b);
Under what circumstances are todays courts willing to allow recovery for innocent misrepresentation?
What are the typical record-at-a-time operations for accessing a file? Which of these depend on the current file record?
What quantity does Flight produce, what price does it charge, and what is its economic profit? Shows the situation facing Flight Inc., a producer of running shoes, to work Problems Price and cost...
If adverse selection and moral hazard increase, how does this affect the ability of monetary policy to address economic downturns?
How does the Great Depression demonstrate the unanticipated price level channel?
"Considering that consumption accounts for nearly two-thirds of total GDP, this means that the interest rate, wealth, and household liquidity channels are the most important monetary policy channels...
Describe the impact of Non-Uniform Memory Access (NUMA) on an operating system's memory management strategies, and how an OS can optimize performance in a NUMA-based hardware environment .
Explain the concept of system calls in operating systems, and discuss the security implications of exposing system-level operations to user space.
Rafner Manufacturing has the following budgeted data for its two production departments. Budgeted Data Assembly Overhead cost $ 1,560,000 $ 1,035,000 Direct labor hours Machine hours 13,000 direct...

If a pill were invented that made workers twice as productive but their wages did not change,

Question:

Step by Step Answer:

The shortrun aggregate supply curve would shift to the ri...View the full answer

Economics of Money, Banking and Financial Markets

Students also viewed these Banking questions