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a. Explain why the aggregate short-run aggregate supply curve is upward sloping? [9 marks] b. What is the theory of liquidity preference? [2 marks] c.

a. Explain why the aggregate short-run aggregate supply curve is upward sloping? [9 marks]

b. What is the theory of liquidity preference? [2 marks]

c. How does it help to explain the downward slope of the aggregate demand cure? [3 marks]

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