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A large, developing economy begins a massive infrastructure program, causing a sudden and sustained surge in the global price of steel and the raw materials used to produce it. Considering the principles of supply and demand in labor markets, what is the most probable immediate effect on a country whose economy is heavily reliant on exporting these raw materials?
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A large, developing economy begins a massive infrastructure program, causing a sudden and sustained surge in the global price of steel and the raw materials used to produce it. Considering the principles of supply and demand in labor markets, what is the most probable immediate effect on a country whose economy is heavily reliant on exporting these raw materials?
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