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Economics-8369479.doc

Answer:
a) In the case of long run equilibrium:
Y =3000
P=1 b) In the short run:
P = 1.5
Y = 3000/1.5 = 2000 c) Long run values after the shock:
P=1
Y = 3000 d) Y = 3(M/P) 3000 = 3M/1.5
M = 1500 If...

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