Essay
Scenario 1
The aggregate demand (AD) and aggregate supply (AS) model can be constructed having inflation rate on the vertical axis instead of the price level and the rate of economic growth instead of output.
-Referring to Scenario 1, discuss the advantages and disadvantages of this representation of the AD-AS model.
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The AD-AS model in terms of 
and g is mor...View Answer
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and g is mor...View Answer
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