How Do Growth in Potential Output and Cost Increases Affect Aggregate Supply?
In Reality, Aggregate Supply Shifts Combine Cost Increases and Increased Potential Output
AS Is Relatively Flat in the Short Run but Turns Vertical in the Long Run
Labor-Force Status of the Population, 1999
Okun’s Law Illustrated, 1955-1999
Inflexible Wages Can
Lead
to Involuntary Unemployment
Most Unemployment in the United States is Short-Term
Distribution of
Unemployment
by Reason, 1999