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Draw an Aggregate Supply and Aggregate Demand Graph Which Shows

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Essay

Draw an aggregate supply and aggregate demand graph which shows the economy producing an output which exceeds potential output in the short run, and the adjustment that will occur as the economy adjusts to long-run equilibrium.


Definitions:

Genetic Makeup

Genetic makeup is the set of genes that an organism carries, determining its hereditary characteristics and influencing various physical and behavioral traits.

Racial Gaps

Discrepancies across different races in various aspects such as education, income, health, and employment opportunities.

Intelligence Scores

Numerical estimations of an individual's intelligence level, often derived from standardized tests.

Biased Tests

Assessments that have systemic errors favoring certain groups over others based on factors unrelated to the skills or knowledge being measured.

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