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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
- 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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Managerial Economics Applications, Strategies and Tactics
Authors: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
13th edition
1285420926, 978-1285962399, 978-1285947853, 1285947851, 978-1285420929
