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Describe how each of the following changes would affect real GDP (Y) in the short run: a. Firms become more pessimistic in their expectations of

Describe how each of the following changes would affect real GDP (Y) in the short run:

a. Firms become more pessimistic in their expectations of the future marginal revenue products of capital.

b. The Fed lowers the real interest rate.

c. Households' wealth increases.

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