4. An expansion in aggregate demand increases in the short run. In the long run, however, it...

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4. An expansion in aggregate demand increases in the short run. In the long run, however, it increases only the .

a. real GDP, price level

b. real GDP, velocity of money

c. the unemployment rate, price level

d. the unemployment rate, velocity of money

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Macroeconomics

ISBN: 9781319263904

11th Edition

Authors: N. Gregory Mankiw

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