1.5.3 Imagine that the economy of your country is growing at its full potential. Given long years...
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1.5.3 Imagine that the economy of your country is growing at its full potential. Given long years of growth of your country’s consumers have formed very high expectations regarding the future performance of the economy, and this translates into an abnormally high level of consumer confidence. By using aggregate supply and demand curves and other useful graphs, illustrate how this will affect the equilibrium output.
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Principles Of Economics
ISBN: 9780802845610
12 Global Edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
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