Question
Explain the process through which an economy returns to long-run equilibrium in the AD/AS model when output is above full employment. You may use a
Explain the process through which an economy returns to long-run equilibrium in the AD/AS model when output is above full employment. You may use a graph to help you answer, but your answer should be in words the graph will not be graded.
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Principles of Economics
Authors: N. Gregory Mankiw
8th edition
1305585127, 978-1305971493, 978-1337516860, 1337516864, 978-0357539200, 978-1305585126
