Why do new classical economists argue that in the long run aggregate demand can only affect the

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Why do new classical economists argue that in the long run aggregate demand can only affect the price level? Use a diagram to illustrate your answer.

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Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

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Posted Date: Mar 06, 2024 02:27 AM

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Why do new classical economists argue that in the long run aggregate demand can only affect the

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New classical economists argue that in the long run aggregate demand AD can only affect the price level because they believe that the economy operates ... View the full answer

Microeconomics An Intuitive Approach with Calculus

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