5- "In partial equilibrium we analyze the single market, while in general equilibrium we analyze all markets together including factor markets. Labor market as one of the factor market will be affected and will be affecting all other markets." i) Given the statement above, discuss the occurence of inflation followed by the taste shock on the labor supply (i.e. labor prefers more laziness)? (5 Marks) ii) Discuss the consequences you referred above by emphasizing the short-run consequences versus long-run consequences ? (5 Marks) iii) Given the fact that the globalization level of the country affects its adaptation to shocks on the labor market, how your answer to a) and b) would change if the country is globalized versus closed-economy ? (5 Marks)