1. When we say the economy is in short-run equilibrium, what does that mean?
2. When there is a change in Government expenditure, will GDP change by the same amount as the change in government expenditure? More? Less? Thoroughly explain.
3. When we include the money market in our model, how will the answer to the question above (b) change.
4. When we allow prices to change, how will the answer to the question above (c) change?

All the question are connected. Please explain will up rate