Explain the influence of the following events on the quantity of real GDP

[nammy]

1. Explain the influence of each of the following events on the quantity of real GDP supplied and aggregate supply in India and use a graph to illustrate.

• U.S. firm moves their call handing, IT, and data functions to India.
• Fuel prices rise.
• Wall-Mart and Starbucks open in India.
• Universities in India increase the number of engineering graduates.
• The money wage rate rises.
• The price level in India Increases.

2. Labor productivity is rising at a rapid rate in China and wages are rising at a similar rate. Explain how a rise in labor productivity and wages in China will influence the quantity of real GDP supplied and aggregate supply in China

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