In 19811982, the U.S. government took steps that shifted the aggregate demand curve inward and to the
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In 1981–1982, the U.S. government took steps that shifted the aggregate demand curve inward and to the left. Describe what happened and how the economy recovered.
Assume in this question that the economy is at full employment, that the following event then occurs, and that the government does not aid the economy’s return to full employment.
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