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When an economy is producing to the left of long-run aggregate supply (LRAS), a-) expansionary fiscal policies should be put in place O b.) contractionary
When an economy is producing to the left of long-run aggregate supply (LRAS), a-) expansionary fiscal policies should be put in place O b.) contractionary monetary policies should be put in place c.) the LRAS curve will shift to the left to meet the current O price level and GDP O d.) resources are overutilized
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Macroeconomics
Authors: David Colander
8th edition
978-0078004407, 78004403, 978-0077247171, 77247175, 978-0077307110
