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QUESTION
Assume Congress passes a law requiring anti-pollution devices be installed at every stage of the production process for goods made in the United...
Assume Congress passes a law requiring anti-pollution devices be installed at every stage of the production process for goods made in the United States.
a) Using a correctly drawn AD/AS graph, explain the short-run impact of these new regulations on each of the following for the United States.
- Output
- Price Level
