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Explain how each of the following will affect long-run aggregate supply. (a) A increasein the labor force participation rate (b) A decreasein the government deficit
Explain how each of the following will affect long-run aggregate supply.
(a) A increasein the labor force participation rate
(b) A decreasein the government deficit following a reduction in personal income taxes
(c) Anincrease in availability of natural and renewable resources
(d) Adecrease in the quantity and quality of education
(e) A decreasein the rate of savingsby households
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