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Explain economy one long run macroeconomic equilibrium

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Reference no: EM13243974

Using aggregate demand, short run aggregate supply and long runaggregate supply curves, explain the process by which each of thefollowing economic events will move the economy from one long runmacroeconomic equilibrium to another. Illustrate withdiagrams. In each case, what are the short run and long runeffects on the aggregate price level and aggregate output?

Reference no: EM13243974

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