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In a standard AD- AS model of the economy, a continuous combined expansionary monetary and expansionary fiscal policy in the long-run will ____________ a.increase price
In a standard AD- AS model of the economy, a continuous combined expansionary monetary and expansionary fiscal policy in the long-run will ____________
a.increase price level and have no effect on output.
b.shift AD right, AS left; price level will increase and the output change will be ambiguous.
c.shift AD right, AS left, and will increase price level and output.
d.shift AD right and will increase output and price level.
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