For each of the following scenarios, state the short run effect on the AS curve. a. There

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For each of the following scenarios, state the short run effect on the AS curve.
a. There is an increase in government spending, which causes demand and real GDP to increase.
b. Nominal wages increase rapidly.
c. Lower inflation is expected in the future.
d. There is a change in technology that lowers the costs of production.
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Macroeconomics

ISBN: 9780132109994

1st Edition

Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty

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