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V. Evaluate the effect of the following on the AD curve, Short-Run AS curve, equilibrium price level(P) and equilibrium output(Y). (that is, What's the effect
V. Evaluate the effect of the following on the AD curve, Short-Run AS curve, equilibrium price level(P) and equilibrium output(Y). (that is, What's the effect of the following events on AD and/or AS?) Draw the relevant graphs indicating shifts of AD and/or Short-Run AS to find out the new price and output. A. The U.S. imposes tariffs on foreign goods to promote domestic industry
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