Describe the adjustment to long-run equilibrium if an economys short-run equilibrium output is above potential output.

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Describe the adjustment to long-run equilibrium if an economy’s short-run equilibrium output is above potential output.

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Macroeconomics Policy And Practice

ISBN: 978-0133424317

2nd Edition

Authors: Frederic Mishkin

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Question Posted: Feb 20, 2024 04:01 AM

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Describe the adjustment to long-run equilibrium if an economys short-run equilibrium output is above potential output.

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In economics the shortrun equilibrium refers to a situation where the actual output of an economy is different from its potential output Potential out...View the full answer

Macroeconomics Policy And Practice

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