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FRQ #2. Explain how each of the following will affect long-run aggregate supply (potential real gross domestic product). (a) A decrease in the labor force

FRQ #2. Explain how each of the following will affect long-run aggregate supply (potential real gross domestic product).

(a) A decrease in the labor force participation rate (b) An increase in the government deficit following a reduction in personal income taxes (c) A decrease in the quantity of inputs required to produce a unit of output (d) An increase in the quantity and quality of education (e) An increase in the rate of savings

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