Assume that there is a positive technological shock. How would this impact on the equilibrium level of

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Assume that there is a positive technological shock. How would this impact on the equilibrium level of employment and the economy’s potential output? Illustrate using diagrams of both the labour and goods markets.

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Economics

ISBN: 978-1292187853

10th edition

Authors: John Sloman, Jon Guest, Dean Garratt

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Question Posted: Apr 03, 2019 09:20 AM

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Assume that there is a positive technological shock. How would this impact on the equilibrium level of

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There would be an increase in potential output The effect on the natural level of employment would d...View the full answer

Economics

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