13. Fill in the blanks for each of the following statements regarding macroeconomic relationships. Assume that all else is held equal for each statement.
a. As the capital per worker increases, labor productivity _____.
(increases/decreases/stays the same)
b. As the money supply increases, the price level _____.
(increases/decreases/stays the same)
c. As technology improves, labor productivity _____.
(increases/decreases/stays the same)
d. With sticky wages, as the price level increases, the real wage _____.
(increases/decreases/stays the same)
e. As the real wage decreases, the demand for labor _____.
(increases/decreases/stays the same)
f. As the capital stock increases, long-term economic growth _____.
(increases/decreases/stays the same)
g. As the interest rate increases, the cost of borrowing money _____.
(increases/decreases/stays the same)
h. As the labor force increases, capital per worker _____.
(increases/decreases/stays the same)
i. As the supply of labor increases, the real wage _____.
(increases/decreases/stays the same)