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Suppose That Changes in Aggregate Demand Tended to Be Infrequent

question 138

Essay

Suppose that changes in aggregate demand tended to be infrequent and that it takes a long time for the economy to return to long-run output. How would this affect the arguments of those who oppose using policy to stabilize output?

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Definitions:

U.S. Public Health Service

A federal health agency that focuses on public health issues and works to improve and protect the health of the American people.

Founded

Established or initiated, often referring to the creation of an institution, organization, or country.

No Child Left Behind Act

A U.S. Act of Congress that reauthorized the Elementary and Secondary Education Act; it included Title I provisions applying to disadvantaged students.

Federal Government's Role

The responsibilities and powers assigned to the national government as opposed to state or local governments.

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