4. Lifting of mask mandates has led to improved business confidence. Explain how it affects short and long run equilibrium using the IS-LM and AD-AS diagram for a closed economy, assuming that were witnessing a recessionary gap before this development. (It is okay to draw the graphs next to each other.)
4. Lifting of mask mandates has led to improved business confidence. Explain how it affects short and long run equilibrium using the IS-LM and AD-AS diagram for a closed economy, assuming that were witnessing a recessionary gap before this development. (It is okay to draw the graphs next to each other.)
Chapter1: Making Economics Decisions
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Transcribed Image Text:4. Lifting of mask mandates has led to improved business confidence. Explain how it affects short
and long run equilibrium using the IS-LM and AD-AS diagram for a closed economy, assuming
that were witnessing a recessionary gap before this development. (It is okay to draw the graphs
next to each other.)
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