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attashe74 [19]
2 years ago
6

In July, 2013 the consulting firm Mercer released results from a survey where workers in the U.S. expected a 2.9% increase in pa

y in 2014. Assuming this occurs and it was the only development in the labor market that year, how would this affect the AS curve
Business
1 answer:
Sliva [168]2 years ago
7 0

Answer:

A 2.9% pay increase in 2014 for U.S. workers will cause the AS (aggregate supply) curve to shift inward in the short-run, signaling a decline in the quantity supplied.

Explanation:

The supply quantity declines because a pay increase increases suppliers' cost of production and reduces their ability to produce more goods and services.  On the contrary, a fall in workers' pay causes the aggregate supply curve to shift outward, thereby increasing the quantity supplied.  In the long-run, the pay increase will increase aggregate demand, thereby pushing prices to increase, while, at the same, suppliers try to increase the quantity supplied to meet with increased prices and demand.

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3 years ago
China had a $214 billion overall current account surplus in 2012. Assuming that China’s net debt forgiveness was zero in 2012 (i
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Answer:

The correct asnwer is $-214 billion.

Explanation:

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This means that China would be facing a deficit.

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2 years ago
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3 years ago
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