Question: With the following problems, we begin to integrate the 3-sector model. These problems follow from Martinsen, chapter 18 and review many of the concepts from

With the following problems, we begin to integrate the 3-sector model. These problems follow from Martinsen, chapter 18 and review many of the concepts from previous chapters. For each economic condition, insert a new supply and/or demand curves. Below the graph, state the change in endogenous variables: increase, decrease, or unchanged. Carefully note the market(s) analyzed in each problem. 8 The federal government increases spending to mitigate a recession. P AS AD RGDP Answer for P and RGDP: 9 The central bank lowers interest rates to zero. P AS AD RGDP Answer for P and RGDP

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