Draw the appropriate LAS/SAS/AD curve(s) and explain what may be the impact on the economy, which fiscal policy (could be more than one) may be used to correct the situation, and the resulting economic impact of policy implementation (theoretically anyway ). Fully label graphs and show any before and after shifts of the curve(s).
Life has been good recently and most Canadians are generally positive and upbeat in their work and economic expectations. Most are expecting a generous increase in wages over the next few years
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