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  • Classical Practice in Macroeconomics Take Into Consideration Both Graphs and Try To Formulate and Explain The Related Concepts. Say's Law

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    shantae Allen
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    Macroeconomics

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    Maco Economics

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    Macroeconomics

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    © All Rights Reserved
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    5 views2 pages

    Classical Practice in Macroeconomics Take Into Consideration Both Graphs and Try To Formulate and Explain The Related Concepts. Say's Law

    Uploaded by

    shantae Allen
    Macroeconomics

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    CLASSICAL

    Practice in macroeconomics

    Take into consideration both graphs and try to formulate and explain the related concepts.

    Says Law

    Wage rate
    SL

    W2

    We

    DL

    Q3 Qe Q2 Qm qty of labour

    The Classical Aggregate Supply Curve

    Price level LRAS

    P1 a b

    AD1
    c
    P2
    AD2

    Qf real output

    Equilibrium Real Output and the Price Level

    a. P AS b. P AS

    1
    Pe Pe
    P1
    AD AD

    Q1 Qe Q2 real output Q1 Qe Q2 real output

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