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What effects would each of the following have on aggregate demand or aggregate supply?In each case state where the aggregate demand effected and in which direction or the aggregate supply is effected and in which direction. Assume all other things remain constant.e. A major cut in Federal spending for health care. f. The expectation of a rapid rise in the price level. g. The complete disintegration of OPEC, causing oil prices to fall by one-half. h. A 10 percent reduction in personal income tax rates. i. An increase in labor productivity. j. A 12 percent increase in nominal wages (with no change in productivity).k. Depreciation in the international value of the dollar.
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