Question
1. Explain the following statements with economic reasoning and appropriate diagram(s) : a)Every point on a downward sloping AD curve is a point of equilibrium
1. Explain the following statements with economic reasoning and appropriate diagram(s):
a)Every point on a downward sloping AD curve is a point of
equilibrium between AE and Y.(5 marks)
b)A short-run aggregate supply (AS) curve is upward sloping but
flatter at the lower end and steeper at the upper end (5 marks)
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Justice In A Global Economy Strategies For Home, Community, And World
Authors: Rebecca Todd Peters, Pamela K Brubaker, Laura A Stivers
1st Edition
0664229557, 9780664229559
