Draw an aggregate expenditure graph and label the macroeconomic equilibrium on it occurring when real GDP is

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Draw an aggregate expenditure graph and label the macroeconomic equilibrium on it occurring when real GDP is $7trillion . Then illustrate how a decrease in aggregate expenditure will lead the economy to experience a recession as it shifts to a new macroeconomic equilibrium where real GDP is $5trillion .

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Principles Of Macroeconomics

ISBN: 9781982166649

1st Canadian Edition

Authors: Betsey Stevenson, Justin Wolfers, Philip Oreopoulos, Kevin Milligan

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