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Use the dynamic aggregate demand and aggregate supply model and start with Year 1 in a long-run macroeconomic equilibrium.For Year 2,graph aggregate demand,long-run aggregate supply,and short-run aggregate supply such that the condition of the economy will induce the president and the Congress to conduct contractionary fiscal policy.Briefly explain the condition of the economy and what the president and the Congress are attempting to do.
Vietnam War
A prolonged conflict from the late 1950s to 1975 between communist forces in North Vietnam and non-communist forces in South Vietnam, with significant involvement by the United States.
Race Riots
Violent disturbances and conflicts that arise from racial tensions between different ethnic or racial groups.
Senator Fulbright
An American politician known for his leadership in the creation of the Fulbright Program, designed to promote international understanding through study and research.
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