Explain for each event whether it changes the quantity of real GDP demanded or aggregate demand.
Question:
• Automotive firms in Canada switch to a new technology that raises productivity.
• Toyota and Honda build new plants in Canada.
• Autoworkers agree to a lower nominal wage rate.
• The Canadian price level rises.
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Step by Step Answer:
The new technology increases aggregate supply which ...View the full answer
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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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