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Part II. True/False (15 points each) Directions: Using an appropriate diagram, explain whether three of the following statements are true or false and why. Credit
Part II. True/False (15 points each) Directions: Using an appropriate diagram, explain whether three of the following statements are true or false and why. Credit will be divided between the diagram and the explanation. (If you answer all four, the three best answers will be used.) A. In the case of a positive Aggregate Supply shock, self-adjustment will lead to a higher price level and a lower level of output, whereas appropriate policy will lead to a lower price level and a higher level of output
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