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    Aggregate supply

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    Explain whether each of the following events will increase, decrease, or have no effect on long run aggregate supply.

    a. The United States experiences a wave of immigration.
    b. Congress raises the minimum wage to $10 per hour.
    c. Intel invents a new and more powerful computer chip.
    d. A severe hurricane damages factories along the East Coast.

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    Solution Preview

    Explain whether each of the following events will increase, decrease, or have no effect on long run aggregate supply.

    a. The United States experiences a wave of immigration. ...

    Solution Summary

    The solution explains whether each of the given events will increase, decrease, or have no effect on long run aggregate supply.

    $2.19