Aggregate supply curve for entire economy, Microeconomics

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1. Explain how the aggregate supply curve for the entire economy can be derived under;

i. Classical assumption

ii. Keynesian assumption

2. Explain how equilibrium can be achieved in both the good and money market?

3. Explain how the three different shapes of Lm curve?

4. Explain how a reduction in taxes can lead to crowding out effect in an economy?


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