Question use the accompanying diagram to answer questions a, Ask an Expert

Economics

Question: Use the accompanying diagram to answer questions a and b.

1790_Real GDP.png

a. On the exhibit provided, illustrate the short-run effects of a decrease in aggregate demand. What happens to the price level, real output, employment, and unemployment?

b. On the exhibit provided, illustrate the long-run effects of a decrease in aggregate demand. What happens to the price level, real output, employment, and unemployment?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M92252359

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