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Identify the impact of each of the following trends on aggregate supply, the equilibrium price level, equilibrium real output, and potential output. a. If the
Identify the impact of each of the following trends on aggregate supply, the equilibrium price level, equilibrium real output, and potential output. a. If the propensity of Canadians to engage in entrepreneurial activity decreases then the aggregate supply curve undergoes a (Click to select) . This causes the equilibrium price level to (Click to select) , equilibrium real output to (Click to select) , and potential output to (Click to select) . b. If the prices of precious metals increase then the aggregate supply curve undergoes a (Click to select) . This causes the equilibrium price level to (Click to select) , equilibrium real output to (Click to select) , and potential output to (Click to select) . c. If labour productivity undergoes a significant decrease then the aggregate supply curve undergoes a (Click to select) . This causes the equilibrium price level to (Click to select) , equilibrium real output to (Click to select) , and potential output to (Click to select) . d. If the price of natural gas increases then the aggregate supply curve undergoes a (Click to select) This causes the equilibrium price level to (Click to select) , equilibrium real output to (Click to select)
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