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Assume the countries of Ornania and Kumbagi are major trading partners. Ornania is currently in long-run macroeconomic equilibrium. As a result of a recession in its economy, Kumbagi decreases its demand for goods produced in Ornania. What will occur in Ornania in the short run?
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Assume the countries of Ornania and Kumbagi are major trading partners. Ornania is currently in long...
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