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10:33
YouTube
Jason Welker
Long-run Equilibrium in the AD-AS Model
In our final video on equilibrium in the AD-AS model we'll look at what happens in the long-run following a negative and a positive output gap. When wages and other input costs have had time to fully adjust to the price level in the economy, output will return to its full employment level. http://econclassroom.com
63.8K views
Aug 1, 2018
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