Illustrate these events with AS or AD shifts: AS AS AS AS AD AD AD *AD
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AS AS AS AS ► AD AD AD *AD REAL OUTPUT REAL OUTPUT Interest rates rise. REAL OUTPUT REAL OUTPUT Imported oil gets cheaper. Taxes on the rich are Government cuts defense spending. increased. PRICE LEVEL
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a b c d Explanation Remember that AD will shift if there are changes in government spendi...View the full answer
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