For each of the following situations, describe the movement, either along the AS curve, or the direction

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For each of the following situations, describe the movement, either along the AS curve, or the direction of the shift of the AS curve.

a. A significant and binding increase in the minimum wage.

b. An increase in labour productivity and no change in wages.

c. An increase in demand for Canada’s exports.

d. Advances in artificial intelligence that reduce costs in all service industries.

e. A decrease in business confidence that reduces firms’ desired investment.

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Ragan Macroeconomics

ISBN: 978-0134835822

16th Edition

Authors: Christopher Ragan

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