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Consider an economy at a long-run equilibrium in the AD-AS model. Suppose the economy of a major trading partner enters into a recession. This is

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Consider an economy at a long-run equilibrium in the AD-AS model. Suppose the economy of a major trading partner enters into a recession. This is best captured by O Shift AD right O shift AD right O Shift LRAS either direction O Shift AD left O Shift AS left

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