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ENGR.ECONOMIC ANALYSIS

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Consider a hypothetical country in which, initially, real GDP equals potential GDP. Suppose that consumer confidence increases. All else equal (with regard to the AD-IA model), relative to the medium-run level, in the long run, output is __________.

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