se the model of aggregate demand and short-run aggregate supply to explain how each of the following would affect real GDP and the price level in the short run. a reduction in government purchases an increase in nominal wages a major improvement in technology
se the model of aggregate demand and short-run aggregate supply to explain how each of the following would affect real GDP and the price level in the short run. a reduction in government purchases an increase in nominal wages a major improvement in technology
Chapter14: Aggregate Demand And Supply
Section: Chapter Questions
Problem 6SQP
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- Use the model of aggregate demand and short-run
aggregate supply to explain how each of the following would affect realGDP and theprice level in the short run. - a reduction in government purchases
- an increase in nominal wages
- a major improvement in technology
- imposing in tariff barriers to imports
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