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Describe in detail how the labour market interacts with the long-run aggregate supply cur

 Describe in detail how the labour market interacts with the long-run aggregate supply curve

 

112) Describe what happens in the economy when there is an increase in the level of the factors of production (the endowment) in the short run and long run.

113) Describe the three possibilities that occur when the price level rises.

 

114) Explain with the aid of diagrams and explanations how price level changes effect the long run equilibrium

 

115) Explain in detail how the multiplier effect assists in determining the price level in the long run.

 

 

Dec 07 2019 View more View Less

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