How does the economys behavior in the short run differ from its behavior in the long run?

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How does the economy’s behavior in the short run differ from its behavior in the long run? Draw the model of aggregate demand and aggregate supply. What variables are on the two axes?

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Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

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Question Posted: Dec 14, 2012 06:20 AM

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How does the economys behavior in the short run differ from its behavior in the long run?

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Principles of economics

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