Define the short run and medium run equilibrium

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Reference no: EM131726624

Using well-labelled graphs, IS-LM, PS-WS and AS-AD models, show the adjustments toward both the short run and medium run equilibrium under the following situations:

a) The European sovereign debt crisis made consumers pessimistic about the future.

b) ACCC (the authority promoting competition) gets additional funding from the government.

Reference no: EM131726624

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