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3) According to the AS/AD model, if AD increases what happens to Price Level, GDP & Unemployment? 4) According to the AS/AD model, if AD

3) According to the AS/AD model, if AD increases what happens to Price Level, GDP & Unemployment? 4) According to the AS/AD model, if AD decreases what happens to Price Level, GDP & Unemployment? 5) According to the AS/AD model, if AS decreases what happens to Price Level, GDP & Unemployment? 6) Based on your answer to #5, how would you show the decrease in AS on the Phillips Curve? (Draw a curve and illustrate your answer. )

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