Refer to the following figure when answering
Figure 15.1: The Labor Market $Refer to the following figure when answering Figure 15.1: The Labor Market -Consider Figure 15.1, which is a representation of the labor market. In 2005, Hurricane Katrina hit the Gulf Coast of the United States; this would cause a shift from curve ________ because this is an example of a(n) ________. A) a \rightarrow b ; negative TFP shock B) b \rightarrow a ; increase in TFP C) d \rightarrow c ; increase in the interest rate D) c \rightarrow d ; rise in government expenditure E) None of these answers are correct.$
-Consider Figure 15.1, which is a representation of the labor market. In 2005, Hurricane Katrina hit the Gulf Coast of the United States; this would cause a shift from curve ________ because this is an example of a(n) ________.
A)

a \rightarrow b

; negative TFP shock
B)

b \rightarrow a

; increase in TFP
C)

d \rightarrow c

; increase in the interest rate
D)

c \rightarrow d

; rise in government expenditure
E) None of these answers are correct.

With Sticky Prices, in the Stylized DSGE Model, a Monetary

Multiple Choice

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