The figure below shows equilibrium in an aggregate demand-aggregate supply model.Which of the following will be true of an economy in the long run that is at point M in the short run?
Definitions:
Independent Variable
The factor in a controlled experiment that is being manipulated.
Experimenter
A person who conducts scientific tests and trials to explore hypotheses and examine the effects of variables.
Manipulated
Altered or controlled in a skillful or sometimes deceitful manner, often to achieve a specific outcome.
Unified Dynamic Structure
A system or organization in which different components work together in a coordinated and dynamic manner to achieve common goals.
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