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Price Level SRAS1 AD Ye Real National Output If the economy is at equilibrium as shown in the diagram above, then a contractionary monetary policy

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Price Level SRAS1 AD Ye Real National Output If the economy is at equilibrium as shown in the diagram above, then a contractionary monetary policy will increase unemployment, but have little effect on inflation increase unemployment and decrease inflation increase output and increase inflation have no effect on output, but increase inflation

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