Question #226618

A decrease in the supply of labour results in:


  • an increase in the real wage rate and no change in potential GDP.


  • a decrease in the real wage rate and an increase in potential GDP.


  • an increase in the real wage rate and a decrease in potential GDP.


  • a decrease in the real wage rate and no change in potential GDP.

Expert's answer

  • an increase in the real wage rate and a decrease in potential GDP.

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