Illustrate what kind of gap-inflationary or recessionary

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An economy in a hypothetical country is in long-run macroeconomic equilibrium when each of the following aggregate demand shocks occurs. Illustrate what kind of gap-inflationary or recessionary-will the economy face after the shock, and what type of fiscal policies, giving specific examples, would help move the economy back to potential output?

Reference no: EM1359142

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