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Please use classical model AD-AS analysis (i.e. state AD, SRAS or LRAS shift rightward or leftward) to predict the impacts on price level and real
Please use classical model AD-AS analysis (i.e. state AD, SRAS or LRAS shift rightward or leftward) to predict the impacts on price level and real GDP in the U.S. for each the following event:
(a) Government increases defense spending
(b) Virus pandemic damages all the states
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