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19 assume that due to concern over the continuing

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Unformatted text preview: Aggregate demand, under what conditions might it be possible to have an increase in the price level even as GDP falls? Professor Elliott Spring, 2013 18) All else being equal, what is the short- and long run effects on output and the price level due to an sudden increase in the price of oil? 19) Assume that due to concern over the continuing crisis in banking on Cyprus, the value of the Euro falls relative to the Dollar at the same ti...
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