2 consider a dynamic aggregate demand and aggregate supply graph that
2. Consider a dynamic aggregate demand and aggregate supply graph that initially shows the economy in long-run equilibrium in 2023. Assume that the economy experiences deflation during 2024.In order for deflation to take place in 2024, the economy (1) _____________also have to be experiencing a recession.The long-run aggregate supply curve will shift to the (2) _______________. The aggregate demand and short-run aggregate supply curves will Furthermore, the demand curve will shift to the right by (3)The new short-run equilibrium will be wherethan the short-run aggregate supply curve.
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