Show using graphs and explain what is the likely impact of expansionary policies when the economy is operating at excess capacity on the flat, horizontal portion of the AS curve? Graphically illustrate this policy effect.
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Q38: Q39: Discuss how public policy during the 1980s Q40: If the United States were to pass Q41: Explain what is meant by potential output. Q42: Critically evaluate the following statement. "If the Q44: What is sustained inflation and what do Q45: Demonstrate on a graph the effect on Q46: Explain why expansionary policy is not likely Q47: Explain demand-pull inflation Q48: Explain why the AS curve cannot be
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