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mikemey mikemey
wrote...
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7 years ago
If weak aggregate demand is pushing the economy into recession, which of the following must be true?
      
a.The economy is at an equilibrium that is on the long-run aggregate supply curve.
      
b.The economy is at an equilibrium that is on the long-run Phillips curve.
      
c. The economy is at an equilibrium that is not on the long-run Phillips curve.

d. Contractionary monetary policies will push the economy back to the long-run Phillips curve.
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