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Which of the following statements is/are correct? a) The 45-degree line sh...
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Which of the following statements is/are correct?
a) The 45-degree line shows the equality between the variable measured on the vertical axis and the variable measured on the horizontal axis.
b) At any point above the 45-degree line, there is excess demand of goods and services. c) When aggregate spending is greater than total production, firms experience an unplanned increase in their inventories and respond by lowering their production.0%
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