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During 2015, there was a substantial increase in stock prices and a reduction in the world price of crude oil. What impact would these two
During 2015, there was a substantial increase in stock prices and a reduction in the world price of crude oil. What impact would these two changes have on aggregate demand and ag- gregate supply in the United States? Use the AD-AS model to indicate the expected impact of these changes on output and the price level.
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