Use appropriate graph(s) to explain the effect of each of the following events, if any, on the position of the short- an
Posted: Fri Jul 01, 2022 7:55 am
Use appropriate graph(s) to explain the effect of each of thefollowing events, if any, on the position of the short- andlong-run aggregate supply curves and the aggregate demand curve fora small open economy. (20 marks)The country becomes home to thousands of immigrants whosignificantly increase its labour force. (5marks)The Central Organization of Trade Unions in the country wins a10 percent increase in money wage rates for low-income workers.(5 marks)There is a decrease in the income of the country’s majortrading partners. (5 marks)The country starts to harness geothermal energy, which it putsto use and sells the excess energy to neighbouring states.(5 marks)