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30 December, 01:02

According to the New-Classical perspective, what will happen in the long-run if the government adopts a policy to increase aggregate demand?

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  1. 30 December, 03:46
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    Increase in inflation

    Explanation:

    According to the New-Classical perspective, an increase in aggregate demand will in the long-run result in an increase in inflation.

    Aggregate demand has to do with the the total spending on goods and services over a period of time at a particular level of prices. Any policy that will bring about an increase in aggregate will result in increase in prices of goods and services in the long-run.
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