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2.3.3 Long-run AS

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Question 12

Suppose a sustained increase in aggregate demand causes the general price level in an economy to rise. Explain, according to classical economic theory, why this increase in the price level does not lead to a change in the level of real output in the long run.

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2.3.3 Long-run AS Questions

  1. A Level
  2. /Economics
  3. /2.3.3 Long-run AS