The demand for Home output from foreign countries increased in an economy which was initially in the long-run equilibrium. In the short-short-run, the economy deviated from its full employment output level. After that, in the long-run, which curve (AD, SRAS, or LRAS) would shift to direction (Left or Right)? Curve: Direction:
The demand for Home output from foreign countries increased in an economy which was initially in the long-run equilibrium. In the short-short-run, the economy deviated from its full employment output level. After that, in the long-run, which curve (AD, SRAS, or LRAS) would shift to direction (Left or Right)? Curve: Direction:
Chapter9: Classical Macro Economics And The Self Regulating Economy
Section: Chapter Questions
Problem 18QP
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The demand for Home output from foreign countries increased in an economy which was initially in the long-run equilibrium.
In the short-short-run, the economy deviated from its full employment output level.
After that, in the long-run, which curve (AD, SRAS, or LRAS) would shift to direction (Left or Right)?
Curve:
Direction:
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