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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

What would the aggregate supply curve look like if a rise in aggregate demand led to a rise in Real GDP but to no change in the price level?

To determine

Graphical illustration of aggregate supply curve.

Explanation

Figure 1 shows the aggregate supply curve.

In figure 1, the vertical axis measures price level and the horizontal axis measures real GDP...

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