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4.5. Be able to use AD and SRAS to explain movements in the GDP deflator (P) and real GDP (Y) with one-time events -- i.e.,

4.5. Be able to use AD and SRAS to explain movements in the GDP deflator (P) and real GDP (Y) with one-time events -- i.e., "static analysis." Note that we will not be using LRAS here. (Ch. 11.3 (not assigned) and notes)

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