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    Understanding Modern Economics
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    Exam 11: Aggregate Demand and Supply  
  5. Question
    The Model of Aggregate Supply and Aggregate Demand Is Based
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The Model of Aggregate Supply and Aggregate Demand Is Based

Question 119

Question 119

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The model of aggregate supply and aggregate demand is based on the assumption that it is only wage changes, not price changes, that determine a firm's production and employment plans.

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