Illustrate each of the following situations with a graph showing AS and AD curves, and explain what

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Illustrate each of the following situations with a graph showing AS and AD curves, and explain what happens to the equilibrium values of the price level and aggregate output:
a. A decrease in G with the money supply held constant by the Fed
b. A decrease in the price of oil with no change in government spending
c. An increase in Z with no change in government spending 

d. An increase in the price of oil and a decrease in G

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Principles of Macroeconomics

ISBN: 978-0134078809

12th edition

Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster

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