Solved: What happens to both prices and gdp in the short-run, Business Management

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What happens to both prices and gdp in the short-run

Suppose a war causes a sudden, large increase in government spending.

a) What happens to both prices and GDP in the short-run Classical Model? Do they increase decrease or stay the same? Explain.

b) What happens to both prices and GDP in the short-run Keynesian model? Do they increase decrease or stay the same? Explain.

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Business Management: What happens to both prices and gdp in the short-run

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