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(a). What do we mean by asset market equilibrium? Explain. (b). Suppose the asset market initially is in equilibrium, at an income level 7000. If

(a). What do we mean by asset market equilibrium? Explain. (b). Suppose the asset market initially is in equilibrium, at an income level 7000. If the income level decrease to 6000, you are required to explain step by step with the help of diagram that what process will take place that will bring this market again into equilibrium

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