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Business, 18.03.2021 22:50 Sep101

Suppose the economy begins in long-run equilibrium, then one day the President appoints a new chair of the Federal Reserve. This incoming chair is well-known for pronouncing that inflation is not a major problem for the economy. On paper, draw the Aggregate Supply/Aggregate Demand model for this economy, and show how this appointment would affect the model.

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Suppose the economy begins in long-run equilibrium, then one day the President appoints a new chair...
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