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Starting from long-run equilibrium,use the basic aggregate demand and aggregate supply diagram to show what happens in both the long run and the short run when there is an increase in wealth.
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Unadjusted Trial Balance
A financial statement listing all the accounts and their balances before any adjustments are made, used for internal purposes to check the balance of debits and credits.
Depreciation Expense
The allocated amount of the cost of an asset over its useful life, used to account for declines in value.
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