Suppose that the United States is at full employment. Explain the effect of each of the following
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Suppose that the United States is at full employment. Explain the effect of each of the following events on aggregate supply:
- Union wage settlements push the money wage rate up by 10 percent.
- The price level increases.
- Potential GDP increases.
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Union wage settlements push the money wage rate up by 10 percent The higher money wa...View the full answer
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