7. Use the lSLM diagram to describe both the short-run effects and the long -run effects of the following changes on national income, the interest
7. Use the lSLM diagram to describe both the short-run effects and the long -run effects of the following changes on national income, the interest rate, the price level, consumption, investment and real money balances. a. An increase in the money supply b. An increase in government purchases c. An increase in taxes
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