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Suppose the economy is self-regulating, the price level is 132, the quantity demanded of Real GDP is 4 trillion, the quantity supplied of Real GDP

Suppose the economy is self-regulating, the price level is 132, the quantity demanded of Real

GDP is 4 trillion, the quantity supplied of Real GDP in the short run is 3.9 trillion, and the

quantity supplied of Real GDP in the long run is 4.3 trillion. Is the economy in short-run

equilibrium? Will the price level in long-run equilibrium be greater than, less than, or equal to

132? Show the relevant graph and explain

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