Why does a reduction in aggregate demand reduce real output, rather than the price level? Why might

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Why does a reduction in aggregate demand reduce real output, rather than the price level? Why might a full-strength multiplier apply to a decrease in aggregate demand?

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Economics

ISBN: 978-0073375694

18th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

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Question Posted: May 23, 2013 07:55 AM

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Why does a reduction in aggregate demand reduce real output, rather than the price level? Why might

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