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Aggregate demand and aggregate supply

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Suppose minium wage were increased sharply, how would this affect the quilibrum price level and output level in the model of aggregate demand and aggregate supply in the short run? In the long run?

Reference no: EM131564676

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Aggregate demand and aggregate supply : Suppose minium wage were increased sharply, how would this affect the quilibrum price level and output level in the model of aggregate demand and aggregate.
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