Use the accompanying diagram to answer questions a and b. a. On the exhibit provided, illustrate the
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a. On the exhibit provided, illustrate the short-run effects of a decrease in aggregate demand. What happens to the price level, real output, employment, and unemployment?
b. On the exhibit provided, illustrate the long-run effects of a decrease in aggregate demand. What happens to the price level, real output, employment, andunemployment?
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a The price level falls real output falls employment falls and unemploy...View the full answer
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