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Assume the short-run aggregate supply curve can be expressed algebraically as: Y s = 3,100 + 3,000 , where Y s is aggregate supply. And
Assume the short-run aggregate supply curve can be expressed algebraically as: Ys = 3,100 + 3,000, where Ys is aggregate supply. And the dynamic aggregate demand curve can be written as: Yd = 3,475 1,000, where Yd is aggregate demand.
Find the numerical value for equilibrium output, Y, in the short run.
Instruction: Enter your response rounded to the nearest whole number.
Find the numerical value, in percent, for the short-run inflation rate, .
Instruction: Enter your response as a percent rounded to one decimal place.
%
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