For each of the following scenarios, state the likely effect on the price level and whether it

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For each of the following scenarios, state the likely effect on the price level and whether it is cost related or demand related.
a. Unions in the airline and automobile industries successfully strike for higher wages.
b. Consumers decide to spend more and save less at every level of income.
c. The government cuts personal income taxes and increases spending.
d. A change in technology increases the productivity of all workers.
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Macroeconomics

ISBN: 9780132109994

1st Edition

Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty

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