a. In the long run, does real GDP increase by more than, less than, or the same

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a. In the long run, does real GDP increase by more than, less than, or the same amount as the immediate increase in the quantity of real GDP demanded?
b. Explain how the price level changes in the long run.

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Macroeconomics Canada in the Global Environment

ISBN: 978-0321778109

8th edition

Authors: Michael Parkin, Robin Bade

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Question Posted: Dec 19, 2015 05:04 AM

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a. In the long run, does real GDP increase by more than, less than, or the same

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a In the long run real GDP equals potential GDP so ...View the full answer

Macroeconomics Canada in the Global Environment

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