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Long run adjustment in Aggregate Demand and Aggregate Supply graph.

Use an aggregate demand (AD) and aggregate supply (AS) model in which the short run aggregate supply curve slopes upwards to illustrate the equilibrium level of real GDP and prices if the economy is operating: describe how the adjustment from short to long run in (c) in your AD/AS diagram.

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M921389

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