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Imagine that in the current year the economy is in long-run equilibrium. Then stock prices fall about 90%, depressing household wealth and consumer spending. Refer
Imagine that in the current year the economy is in long-run equilibrium. Then stock prices fall about 90%, depressing household wealth and consumer spending. Refer to Scenario 33-2. In the long run, the change in price expectations created by the fall in stock prices a. long-run aggregate supply left. b. short-run aggregate supply left. c. short-run aggregate supply right. d. long-run aggregate supply right
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