With an upward sloping short-run aggregate supply (SRAS) curve and starting from the natural level of...

 

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With an upward sloping short-run aggregate supply (SRAS) curve and starting from the natural level of output, an unexpected monetary expansion will cause output and the price level to short run; and in the long run the expected price level will. return to the natural level. in the , causing the level of output to With an upward sloping short-run aggregate supply (SRAS) curve and starting from the natural level of output, an unexpected monetary expansion will cause output and the price level to short run; and in the long run the expected price level will. return to the natural level. in the , causing the level of output to

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