ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Parts E-H
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Step 1
In the long run, Classical AS depicts the output is at the level of full employment and by increasing the employment it becomes impossible for increasing the output due to people being fully employed. Any effort for causing an increase in the output level by the government would lead to an increase in prices.
Note: As per the student's request, parts of e-h have been answered.
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