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(Answer one of the following questions. Each question is 15points) ribe the possible effects of falling prices on equilibrium income as explained by Classical sts.

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(Answer one of the following questions. Each question is 15points) ribe the possible effects of falling prices on equilibrium income as explained by Classical sts. This is also known as the Pigou effect. During the Great Depression, the Pigou effect was not ced from falling prices. Explain what happened instead and use the appropriate formulas to this

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