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Assume that the economy of Mordor is in long-run equilibrium. Then suppose the aggregate demand increases. We would expect that in the long run, the
- Assume that the economy of Mordor is in long-run equilibrium. Then suppose the aggregate demand increases. We would expect that in the long run, the price levelwould
a. | increase. |
b. | decrease. |
c. | stay the same. |
d. | decrease by the same amount as the increase in aggregate demand. |
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Principles of Macroeconomics
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
12th edition
978-0134078809
