Shifts in aggregate demand or aggregate supply curves

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Reference no: EM13696677

Describe each of the following outcomes in terms of shifts in aggregate demand or aggregate supply curves.

A recession deepens while the rate of inflation increases.

The price level rises sharply while real output and employment increase.

The price level falls, but the unemployment rate rises.

Real output rises, the unemployment rate falls, and the price level rises.

Reference no: EM13696677

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