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A. the economy is below full employment B. the unemployment rate is very very low C. there is pressure on wages and prices to rise

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A. the economy is below full employment
B. the unemployment rate is very very low
C. there is pressure on wages and prices to rise
D. firms are operating above their normal capacity
Figure 15-11 LRAS LRAS Price level SRAS, SRAS, 102 100 AD AD, Yur $10 10.8 11 Real GDP Refer to Figure 16-11. In the dynamic model of AD AS in the figure above, if the economy is at point in year and is expected to go to point 8 in your 2, and the Federal Reserve pursues no policy, than at point 8

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