Explain for each event whether it changes the quantity of real GDP supplied, short-run aggregate supply, long-run
Question:
• Automotive firms in Canada switch to a new technology that raises productivity.
• Toyota and Honda build additional plants in Canada.
• The price of auto parts imported from China rise.
• Autoworkers agree to a cut in the nominal wage rate.
• The Canadian price level rises.
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Related Book For
Macroeconomics Canada in the Global Environment
ISBN: 978-0321778109
8th edition
Authors: Michael Parkin, Robin Bade
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