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what is the explanation of the short-run effect (including the determinant of AD or AS that is causing the shift, the line that shifts (AD
what is the explanation of the short-run effect (including the determinant of AD or AS that is causing the shift, the line that shifts (AD or AS), the direction of the shift (left or right), and the impact on output and price level (increase or decrease) in addition to a a properly drawn and labeled aggregate demand and aggregate supply graph for the scenario.
The scenario is:
The election of a new Congress causes consumer confidence to soar as expectations of future economic growth are solid.
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