Explain how prolonged recessions can occur and how an economy can become stuck in a slump with

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Explain how prolonged recessions can occur and how an economy can become stuck in a slump with actual output falling short of potential output even if both buyers and sellers are making the best decisions they can. How can the economy become unstuck?

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Principles Of Economics

ISBN: 9781319330156,9781319419769

2nd Edition

Authors: Betsey Stevenson, Justin Wolfers

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