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3. Scenario: Starting from long-run equilibrium, graphically illustrate and explain what happens to RGDP, the average price level, and unemployment if consumer confidence decreases. Question:

3. Scenario: Starting from long-run equilibrium, 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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