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Refer to the graph for questions 15 and 16: Real GDP 15. Which of the following statements is true if this economy is operating P,
Refer to the graph for questions 15 and 16: Real GDP 15. Which of the following statements is true if this economy is operating P, and Y, ? The level of aggregate output equals potential output. II. It is in short-run macroeconomic equilibrium. III. It is in long-run macroeconomic equilibrium. a. I only b. II only C. III only d. II and III e. I and
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