Question: Draw a separate, correctly labeled aggregate demand and supply graph to illustrate each of the following situations. On each of your graphs, include the short-run
Draw a separate, correctly labeled aggregate demand and supply graph to illustrate each of the following situations. On each of your graphs, include the short-run aggregate supply curve(s), long-run aggregate supply curve(s), and aggregate demand curve(s).
a. Expansionary fiscal policy moves the economy out of a recession.
b. Investment in infrastructure by the government leads to long-run economic growth.
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