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Explain why the following statement is True, False, or Uncertain according to economic principles. Use diagrams if it is appropriate.

In the short run, changes in GDP can be thought of as stemming from changes in the employment rate of labour, while in the long run, changes in GDP can be thought of as stemming from changes in the labour force and/or changes in labour productivity (output per employed worker)

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91230735

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