Question: A) Using the aggregate demand-aggregate supply diagram, graphically illustrate and explain the impact of an expansionary monetary policy on the price level and real income

A) Using the aggregate demand-aggregate supply diagram, graphically illustrate and explain the

impact of an expansionary monetary policy on the price level and real income in the long run.

B) If one is interested in comparing the economic well-being of citizens across countries which of the

following measures would be the most useful: nominal GDP, real GDP, or real GDP per capita?

Explain.

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