Suppose that, as an example for a negative TFP shock, the economy is hit by a hurricane. At the same time, the hurricane destroys a substantial part of the capital stock K. This leads to

Normale Antwort Multiple Choice

• A drop in labor demand because the marginal productivity of labor decreases

  A drop in labor demand because the marginal productivity of labor decreases

  A drop in labor demand because the marginal productivity of labor decreases
• A decline in labor supply because the consumer's real disposable income declines which leads to a negative income effect

  A decline in labor supply because the consumer's real disposable income declines which leads to a negative income effect

  A decline in labor supply because the consumer's real disposable income declines which leads to a negative income effect
• A drop in labor demand because the total productivity of labor decreases

  A drop in labor demand because the total productivity of labor decreases

  A drop in labor demand because the total productivity of labor decreases
• A decline in labor supply because the consumer's non-wage real income declines which leads to a negative substitution effect

  A decline in labor supply because the consumer's non-wage real income declines which leads to a negative substitution effect

  A decline in labor supply because the consumer's non-wage real income declines which leads to a negative substitution effect

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