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Explain clearly The Australian economy is initially in long rim equilibrium. Due to prolonged peace, the Federal Governments decides to cut its defence spending by
Explain clearly
The Australian economy is initially in long rim equilibrium. Due to prolonged peace, the Federal Governments decides to cut its defence spending by $1 billion. In the short run O the aggregate demand curve shifts left and the short run aggregate supply curve shifts left. O the aggregate demand curve shifts left and the short-run aggregate supply curve does not shift. O the aggregate demand curve shifts right and the short-run aggregate supply curve shifts left. O the aggregate demand curve shifts left and the short-run aggregate supply curve shifts right. the aggregate demand curve shifts right and the short run aggregate supply curve does not shiftStep by Step Solution
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