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48. Which of the following is being depicted in the diagram below: a. Unemployment rises as the economy moves from point a to point b.

48. Which of the following is being depicted in the diagram below: a. Unemployment rises as the economy moves from point a to point b. b. Either fiscal or monetary policy could be used to move the economy from point b to point a. c. If the economy is left alone, then as the economy moves from point b to long-run equilibrium, the price level will fall farther. d. All of the above are correct. Price Level LRAS AD AD Quantity of Output

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