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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

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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 "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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