Explain whether each of the following events increases, decreases, or has no effect on long-run aggregate supply.
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Explain whether each of the following events increases, decreases, or has no effect on long-run aggregate supply.
a. The United States experiences a wave of immigration.
b. Congress raises the minimum wage to
$15 per hour.
c. Intel invents a new and more powerful computer chip.
d. A severe hurricane damages factories along the East Coast.
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