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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What does it mean when the aggregate expenditure line crosses the 45-degrss line? In other words, how would you explain the intersection in words?

To determine

The meaning of crossing of 45 degree line by the aggregate expenditure line needs to be explained.

Explanation

The Keynesian cross model is used to show the relationship between output and expenditure. This model show the how the aggregate expenditure differs with the level of output...

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