Part 1: Long-Run Self Adjustment- Draw a correctly labeled graph of aggregate demand, aggregate supply, and long-run aggregate supply. Start each graph at full employment. Show what happens in both the short-run and the long-run if the economy is given time to self-adjust. 1. Consumer spending increases as consumers confidence increases 2. Congress passes a bill dramatically reducing government spending

Part 1: Long-Run Self Adjustment- Draw a correctly labeled graph of aggregate demand, aggregate supply, and long-run aggregate supply. Start each graph at full employment. Show what happens in both the short-run and the long-run if the economy is given time to self-adjust. 1. Consumer spending increases as consumers confidence increases 2. Congress passes a bill dramatically reducing government spending

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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