Why Are the Long-Run Effects of an Increase in Aggregate

question 81

Essay

Why are the long-run effects of an increase in aggregate demand on price and output different from the short-run effects?

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Treated

Subjected to a specific process or course of action, typically to achieve a certain effect or outcome.

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To own means to have legal right or title to an object, property, or asset, granting the holder exclusive rights to the use, enjoyment, and disposition of that asset.

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Acknowledged or agreed upon; an offer or proposal that has been received and approved.