Consider if in a given economy, the parliament approves an increase in minimum wage.   Starting from the medium run equilibrium, when economy is at full employment to discuss the effects of this shock.                                                                   a)- Using a set of WS/PS curves, and only in labor market, in step by step way, explain the impacts. b)- Using the aggregate supply and demand (AS/AD), and IS/LM curves, show the short and medium run equilibrium points. [No explanation, only neat and well-marked graphs are acceptable

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Q: Consider if in a given economy, the parliament approves an increase in minimum wage.   Starting from…

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Q: Consider if in a given economy, the parliament approves an increase in minimum wage.   Starting from…

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Q: the parliament approves an increase in minimum wage.   Starting from the medium run equilibrium,…

A: ***As required in the given question, the solution part contains only the graphs of the…

Q: Hello, I would like help on those assignments. Thank you

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