10. Aggregate Model Practice Problems Use the Current Version of the Graph Graphs Must be Completely Correctly Labeled Show the Change that Happens First Explain the Change for PL and real GDP . The economy is in recession and the federal government passes a bill creating thousands of new jobs. . The economy is efcient and the federal government passes a bill creating thousands of new jobs. . The federal government successfully deports all illegal immigrants. . Microsoft announces a new product that triples the productivity of all ofce workers. . States stop making school attendance mandatory and many more children drop out of school. . The Christmas shopping season is very strong and consumers are very condent. . Rates on borrowing money fall to historic lows, making loans very cheap. . Birth rates increase dramatically in the US over the next ten years. What will be the result 20 years from now if all other factors in the economy remain stable for that time? . Other countries go wild buying US products and exports increase dramatically. Saudi Arabia has a civil war and oil production to the US is cut in half