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Price level Price level LRAS SRAS SRAS, Real GDP Real GDP Price level LRAS Price level SRAS, SRAS AD Real GDP Y Y . Real

Price level Price level LRAS SRAS SRAS, Real GDP Real GDP Price level LRAS Price level SRAS, SRAS AD Real GDP Y Y . Real GDP Which of the diagrams above (labelled in red) is consistent with stagflation? Both 1 and 2

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