Equilibrium in aggregate demand-aggregate supply model

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1) Why short run aggregate supply curve is positively sloped? Why long run aggregate supply curve is vertical?

2) Depict graphically the equilibrium in the aggregate demand and aggregate supply model?

3) Explain how short run aggregate supply shifts affect the economy? Show the graphs with labels.

4) Explain how aggregate demand shifts affect the economy? Show the graphs with labels.

Reference no: EM13829973

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