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For each of the following events, draw an aggregate-demand/aggregate-supply diagram and explain the short-run effects on output and the price level in the U.S., assuming

For each of the following events, draw an aggregate-demand/aggregate-supply diagram and explain the short-run effects on output and the price level in the U.S., assuming policymakers take no action. Short run, both input and output prices are fixed

(d) A ten-year-old investment tax credit expires.

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