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AD Curve and AS Curve explanations

There are many factors may change AD and AS, and the equilibrium. Please elucidate the effect of the following scenario on the AD curve, AS curve, and accordingly the effect on equilibrium price level and equilibrium GDP/output. It seems the best if you draw a graph for each scenario after you describe what might happen to AD and AS.

A technology boom improves technology across industries, improving their productivity.

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M921669

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