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Suppose That Changes in Aggregate Demand Tended to Be Infrequent

question 32

Essay

Suppose that changes in aggregate demand tended to be infrequent and that it took 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?


Definitions:

Solo Entrepreneurs

Refers to individuals who establish and run their business independently, typically focusing on a niche market or industry.

Persistent Myth

A widely held but false belief or idea that continues to exist despite evidence to the contrary.

Energetic

Describing something or someone possessing or exhibiting a high level of energy or vigor.

Measurable Accomplishment

A specific, quantifiable achievement that reflects progress towards a goal or an objective.

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