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please show ur work 1) (10 points) Suppose we are at time t* and we learn that the labor supply will increase permanently from L

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please show ur work

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1) (10 points) Suppose we are at time t* and we learn that the labor supply will increase permanently from L to L' in an open market economy starting by next period (t* | 1). What happens to price level, real exchange rate and nominal exchange rate in long run (at time t*)? Explain in detail by showing the changes in the relevant markets

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