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Consider the IS-LM model. Suppose the economy of Economica is initially at the general equilibrium. Suppose further that the government considers the tightening of immigration

Consider the IS-LM model.

Suppose the economy of Economica is initially at the general equilibrium. Suppose further that the government considers the tightening of immigration laws and hires you as a consultant. Use the IS-LM model discussed in class to

  1. explain and show graphically how the tightening of immigration laws would affect the labor market .
  2. explain and show graphically how the tightening of immigration laws would affect the short-run equilibrium.
  3. explain and show graphically how the tightening of immigration laws would affect the long-run equilibrium.

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