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In the New Keynesian Macroeconomics business cycles are driven by demand shocks, while in the New...

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Economics

In the New Keynesian Macroeconomics business cycles are drivenby demand shocks, while in the New Classical Macroeconomics theyare driven by supply shocks. Explain this statement using yourknowledge of the AD-AS model.

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Solution In the New Keynesian Macroeconomics there is an attention on request stuns Along these lines business cycles are produced as the descending slanting Promotion bend movements    See Answer
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