Suppose that the public's taste changes in such a way that leisure comes to be more desirable

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Suppose that the public's taste changes in such a way that leisure comes to be more desirable than commodities. How would you expect such a change to affect output, employment, and the real wage in the classical model?

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Macroeconomics Theories and Policies

ISBN: 978-0132831529

10th edition

Authors: Richard T. Froyen

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Question Posted: May 24, 2016 06:42 AM

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Suppose that the public's taste changes in such a way that leisure comes to be more desirable

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A change in taste with leisure becoming more valuable would cause ind...View the full answer

Macroeconomics Theories and Policies

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