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a. Suppose the economy starts with output at potential (GDP = LRAS). On the graph, draw the effect of a fall in consumption. Instructions: Use

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a. Suppose the economy starts with output at potential (GDP = LRAS). On the graph, draw the effect of a fall in consumption. Instructions: Use the tool provided "New AD" to draw the appropriate curve. New AD LRAS SRAS Price Level AD GDPreset b. This results in a(n) recessionary gap v

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