Macroeconomics
Macroeconomics
13th Edition
ISBN: 9781337617390
Author: Roger A. Arnold
Publisher: Cengage Learning
Question
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Chapter 14, Problem 9QP
To determine

Difference between long-run aggregate demand and short-run aggregate supply.

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What change does recession has on the price and output level when the change in aggregate demand is more than change in aggregate supply ?
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What change does recession has on the price and output level when the change in aggregate demand is less than change in aggregate supply ?
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