Suppose the economy is self-regulating, the price level is 150, the quantity demanded of Real GDP and the quantity supplied of Real GDP in the short run both equal $4.3 trillion, and the quantity supplied of Real GDP in the long run is $4.1 trillion. Given all of this information, we can conclude that the economy in short run equilibrium, and that the price level in long run equilibrium will be than 150.
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Suppose the economy is self-regulating, the price level is 150, the quantity demanded of Real GDP an...
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