Question: Q1. Explain Aggregate Demand (AD) and Aggregate Supply (AS). What is the difference between AS in the immediate short run, short run, and long run?

Q1. Explain Aggregate Demand (AD) and Aggregate Supply (AS). What is the difference between AS in the immediate short run, short run, and long run?

Q2. What factors change AD and AS? Explain the effect of the multiplier in changes in equilibrium as a result of shifts in AD and AS?

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