The ability of the economy to eliminate any imbalances between actual and potential output is some times
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The ability of the economy to eliminate any imbalances between actual and potential output is some times called self-correction. Using an aggregate supply and aggregate demand diagram, show why this self-correction process involves only temporary periods of inflation or deflation.
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Related Book For
Macroeconomics A Contemporary Introduction
ISBN: 9781305505490
11th Edition
Authors: William A. McEachern
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