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octahedron
Dec17-07, 04:39 PM
If an economy is in long-run equilibrium (say that we assume it is so), can we directly infer that it is ALSO in short-run equilibrium?

EnumaElish
Dec18-07, 12:43 PM
Yes. By definition, the economy is in LR-eq. if AD = SRAS = LRAS. The first equality implies SR-eq.