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Suppose That You Have the Following Information About the Economy,where

question 135

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Suppose that you have the following information about the economy,where all figures are in millions of dollars:
Full employment output = $2,000
Consumption = $1,200
Investment = $400
Government spending = $500
Net exports = -$200
Because short-run output is ________ full employment output,in the long run we would expect the price level to ________.


Definitions:

High-context Cultures

Cultures where communication is often indirect and relies heavily on context, non-verbal cues, and the relationships between speakers.

Explicitly

Stated clearly and in detail, leaving no room for confusion or doubt.

Essential Information

Information that is fundamental or critical to understanding a topic or making informed decisions.

Communication

The process of exchanging information, ideas, thoughts, and feelings between people through speaking, writing, or non-verbal methods.

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