Question: Explain: Unemployment can be caused by a decrease of aggregate demand or a decrease of aggregate supply. In each case, specify the price-level outcomes.

Explain: “Unemployment can be caused by a decrease of aggregate demand or a decrease of aggregate supply.” In each case, specify the price-level outcomes.

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Explain: Unemployment can be caused by a decrease of aggregate demand or a decrease of aggregate supply. In each case, specify the price-level outcomes.

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Explain: Unemployment can be caused by a decrease of aggregate demand or a decrease of aggregate supply. In each case, specify the price-level outcomes. LO4

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