Question: Part 1: True or False Indicate whether you consider each of the following statements to be TRUE or FALSE. In each case give a brief

Part 1: True or False Indicate whether you consider each of the following statements to be TRUE or FALSE. In each case give a brief explanation and use graphs if needed. Answers with no or incorrect explanation will get no credit. 1) A temporary beneficial supply shock, i.e. an increase in productivity, increases the equilibrium level of employment and reduces the real wage. TRUE / FALSE

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