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    Economics for Today Study Set 6
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    Exam 20: Aggregate Demand and Supply
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    Discuss the Three Ranges of the Aggregate Supply (AS) Curve
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Discuss the Three Ranges of the Aggregate Supply (AS) Curve

Question 55

Question 55

Essay

Discuss the three ranges of the aggregate supply (AS) curve. What could cause the AS curve to shift to the left? What impact would a leftward shift of the AS curve have on the economy?

Correct Answer:

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The Keynesian range is the horizontal ra...

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