15. Demonstrate graphically how the following are represented in the globalized AS/AD model for the United States.

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15. Demonstrate graphically how the following are represented in the globalized AS/AD model for the United States. What happens to the trade deficit in each? (LO37-4)

a. Foreign wages rise.

b. U.S. productivity rises.

c. The value of the dollar rises.

d. The U.S. imposes tariffs on imported goods.

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