In The Extended Aggregate Demand-Aggregate Supply Model

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In The Extended Aggregate Demand-Aggregate Supply Model

: - long-run equilibrium occurs wherever the aggregate demand curve intersects the short-run aggregate supply curve. - the long-run aggregate supply curve is horizontal. - the short-run aggregate supply curve is downsloping. - the level of real output is the same in the long run regardless of the location of the aggregate demand curve.
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the level of real output is the same in the long run regardless of the location of the aggregate demand curve.

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