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Suppose the economy is initially in equilibrium, with AD intersecting AS at the potential GDP level. Now, consider Technological advancements lead to higher productivity. Describe
Suppose the economy is initially in equilibrium, with AD intersecting AS at the potential GDP level. Now, consider Technological advancements lead to higher productivity. Describe how it would impact the AD and AS curves. Then, sketch the resulting changes on a graph showing both AD and AS. Remember to label your axes and curves appropriately
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
