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Homework answers / question archive / According to the LRAS-SRAS-AD macroeconomic model, if an economy is initially in long-run equilibrium, a boom in one of this economy's major trading partners will: a

According to the LRAS-SRAS-AD macroeconomic model, if an economy is initially in long-run equilibrium, a boom in one of this economy's major trading partners will: a

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According to the LRAS-SRAS-AD macroeconomic model, if an economy is initially in long-run equilibrium, a boom in one of this economy's major trading partners will:

a. increase output and prices in the short run and the long run.

b. decrease output and increase prices in the short run and the long run.

c. increase output and decrease prices in the short run and the long run.

d. increase output and prices in the short run, but decrease output in the long run.

e. increase output and prices in the short run, but only prices in the long run.

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