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NOW YOU TRY Analyze SR & LR effects of AM a. Draw the IS-LM and AD-AS diagrams as shown here. b. Suppose Fed increases M.

NOW YOU TRY

Analyze SR & LR effects of AM

a. Draw the IS-LM and AD-AS diagrams as shown here.

b. Suppose Fed increases M. Show the short-run effects on your graphs.

c. Show what happens in the transition from the short run to the long run.

d. How do the new long-run equilibrium values of the endogenous variables compare to their initial value?

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