Question: 1.10 Explain for each event whether it changes the quantity of real GDP supplied, short-run aggregate supply, long-run aggregate supply or a combination of them.

1.10 Explain for each event whether it changes the quantity of real GDP supplied, short-run aggregate supply, long-run aggregate supply or a combination of them.

◆ UK car producers switch to a new technology that raises productivity.

◆ Toyota and Honda build additional plants in the UK.

◆ The prices of car parts imported from China rise.

◆ Workers in UK car plants agree to a cut in the money wage rate.

◆ The UK price level rises.

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