-Refer to Exhibit 8-2.What word (rises or falls) should go in blank (1) and blank (2) ,respectively,to summarize the resulting impact on short run equilibrium of the given change in the economy?
Definitions:
Hollywood
The film industry and cultural district in Los Angeles, California, known for being the historic center of American cinema.
1920s
A decade known for significant cultural, economic, and social change worldwide, often referred to as the "Roaring Twenties."
Scopes Trial
A landmark American legal case in 1925 in which high school teacher John T. Scopes was tried for violating Tennessee's Butler Act, which prohibited the teaching of evolution in public schools, bringing national attention to the debate between fundamentalist religious values and scientific theories.
Tennessee
A state located in the southeastern United States known for its significant contributions to American music, agriculture, and Civil War history.
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