2.4.3 - equilibrium levels of real national output

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4 Terms

1
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show a picture of short run equilibrium

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<p>.</p>
2
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classical vs keynesian economist views on long run equilibrium

classical:

  • economy will return to full potential level

keynes:

  • long-run equilibrium at any level of output

3
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classical long run equilibrium picture

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<p>.</p>
4
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keynsian long run equilibrium picture

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<p>.</p>