Use an AD and AS graph to explain the short-run and long-run effects on real GDP and
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Use an AD and AS graph to explain the short-run and long-run effects on real GDP and the price level of an increase in autonomous consumption spending. Assume the economy begins at full employment.
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The increase in autonomous consumption shifts the a...View the full answer
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Related Book For 
Macroeconomics Principles and Applications
ISBN: 978-1111822354
6th edition
Authors: Robert E. Hall, Marc Lieberman
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