For each of the following scenarios, state the likely effect on the price level and whether it
Question:
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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Related Book For
Macroeconomics
ISBN: 9780132109994
1st Edition
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
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