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If the government does not intervene, aggregate demand will shrink in the long run, resulting in the re-establishment of equilibrium at a lower price p2
If the government does not intervene, aggregate demand will shrink in the long run, resulting in the re-establishment of equilibrium at a lower price p2 and full employment in the long run
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Microeconomics
Authors: Dean Karlan, Jonathan Morduch
1st edition
978-0077332587, 007733258X, 978-0077332648, 77332644, 978-1259163531
