Distinguish between short-run and long-run aggregate supply

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Reference no: EM131311828

1. Explain the composition of aggregate demand. Explain under what circumstances the aggregate demand curve might shift

(a) to the right

(b) to the left.

2. Distinguish between short-run and long-run aggregate supply and discuss the import-ance of this distinction for macroeconomic policy.

Reference no: EM131311828

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