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When the economy moves from its short-run equilibrium to

1. When the economy moves from its short-run equilibrium to its long-run equilibrium, what will happen to the price level? Show with the help of aggregate demand and aggregate supply curves.

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

a. The KSA experiences a wave of immigration.

b. KSA government raises the minimum wages to 500 SR per hour.

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Microeconomics: When the economy moves from its short-run equilibrium to

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