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Why are the long-run effects of an increase in aggregate demand on price and output different from the short-run effects?
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Free from outside control; not depending on another's authority, or capable of thinking or acting for oneself.
Theory
A systematically organized set of concepts, explanations, and predictions about phenomena, serving as a framework for understanding or investigating those phenomena.
Hypothesis
A proposed explanation made on the basis of limited evidence as a starting point for further investigation.
Research Outcome
The results or findings derived from conducting scientific research, which can provide insights or answer research questions.
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