What is the fundamental source of transition dynamics in our AS/AD framework? Why does the economy take

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What is the fundamental source of transition dynamics in our AS/AD framework? Why does the economy take several periods before returning to its steady state following a shock?

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Macroeconomics

ISBN: 978-0393923902

3rd edition

Authors: Charles I. Jones

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Question Posted: Feb 25, 2016 06:33 AM

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What is the fundamental source of transition dynamics in our AS/AD framework? Why does the economy take

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The AS curve is our fundamental source of dynamics as d...View the full answer

Macroeconomics

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