What effects would each of the following have on aggregate demand and/or aggregate supply?  Assume all other things remain constant.                                                                                     

What effects would each of the following have on aggregate demand and/or aggregate supply?  Assume all other things remain constant.                                                                                     

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  1. A widespread fear of depression on the part of consumers.
  2. A $2 increase in the excise tax on a pack of cigarettes.
  3. A reduction in interest rates at each price level.
  4. A major increase in Federal spending for health care.
  5. The expectation of rapid inflation.
  6. The complete disintegration of OPEC, causing oil prices to fall by one-half.
  7. A 10 percent reduction in personal income tax rates.
  8. A sizable increase in labor productivity (with no change in nominal wages).
  9. A 12 percent increase in nominal wages (with no change in productivity).
  10. Depreciation in the international value of the dollar

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