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Suppose that full-employment output is 94, aggregate demand is AD=500-20P and you are currently in a long-run equilibrium. However, a recession hits making AD shift

  1. Suppose that full-employment output is 94, aggregate demand is AD=500-20P and you are currently in a long-run equilibrium. However, a recession hits making AD shift left to AD=497-20P. How much does output change in the short run?(Include theminus(-) symbol when the number is negative (e.g., going from 10 to 8 is "change by -2").

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