Consumers expect the price of the good to rise in the future

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Reference no: EM13800418

Explain with graph what happens to aggregate demand curve, and/or aggregate supply curve for the following situations:

a. Consumers expect the price of the good to rise in the future.

b. Consumers incomes increase.

c. The price of the good rises currently.

d. Technological improvements in the production of the product.

e. Labor cost (wages) is increased.

Reference no: EM13800418

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