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Topic 1. Suppose we heard in the news that GDP is higher this year than it has been in past years. This means that our

Topic 1. Suppose we heard in the news that GDP is higher this year than it has been in past years. This means that our "well-being" has improved this year compared to last year. Is that true? Discuss Topic 2. In terms of aggregate demand (AD) and aggregate supply (AS), discuss the differences between short-run equiiibrium and the iong-run equilibrium

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