Question: 1.14 Explain for each event whether it changes short-run aggregate supply, long-run aggregate supply, aggregate demand or some combination of them. The following events have

1.14 Explain for each event whether it changes short-run aggregate supply, long-run aggregate supply, aggregate demand or some combination of them. The following events have occurred in UK history:

◆ The world economy goes into an expansion.

◆ UK businesses expect future profits to rise.

◆ The government increases its expenditure on goods and services in a time of war or increased international tension.

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