Use the IS-LM model to determine the effects of each of the following on the general equilibrium values of the real wage, employment, output, the real interest rate, consumption, investment and the price level. (a) Tougher immigration laws reduce the working-age population.
(b) There's increased volatility in the prices of stocks and bonds.
(c) The government tries to achieve tax equity by an increase in the corporate tax rate.
(d) Increased computerization reduces stock market brokerage costs.