10. Some events change aggregate demand from AD0 to AD1 and aggregate supply from SAS0 to SAS1....
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10. Some events change aggregate demand from AD0 to AD1 and aggregate supply from SAS0 to SAS1. What is the new macroeconomic equilibrium? Use the following data to work Problems 11 to 13. The following events have occurred in the history of the United States: ■ A deep recession hits the world economy. ■ The world oil price rises sharply. ■ U.S. businesses expect future profits to fall.
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