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Homework answers / question archive / Consider the figure below
Consider the figure below. Assume that the economy is at short-run macroeconomic equilibrium at Y1 and P2. In the long-run, if the economy is left to self correct, what happens to wages, producers' profits, and SRAS curve? Price level LRAS SRAS P3 P2 X PA AD Y, Yp Real GDP ? wages would A. decrease producers' profits would B. increase v SRAS would
