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3. Scenario: Starting from long-run equilibrium, 4. Scenario: Starting from long-run equilibrium, graphically illustrate and explain what happens to RGDP, the average price level, and

3. Scenario: Starting from long-run equilibrium, 4. Scenario: Starting from long-run equilibrium, graphically illustrate and explain what happens to RGDP, the average price level, and unemployment if consumer confidence decreases. graphically illustrate and explain what happens to RGDP, the average price level, and unemployment if consumer confidence decreases. Question: Starting from long-run equilibrium means that actual RGDP is the same as full-employment RGDP. True False

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