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Instruction: Please do your own work. In case answers are copied then both students will get zero marks. And there will be no SECOND attempt
Instruction: Please do your own work. In case answers are copied then both students will get zero marks. And there will be no SECOND attempt given. 1200 1100 SAD 1000 900 SRAS3 800 700 SRAS1 Price Level 500 400 SRASZ 300 200 100 LRAS 0 100 200 300 400 500 600 700 800 900 1000 1100 1200 Real GDP Q1. a) Describe the above graph in simple words as if you are teaching your students. Ans: c) What may have caused SRAS2 to shift upward or leftward? Ans d) How can GDP shift from SRAS2 to SRAS3 position? Ans
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