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Suppose that America's real estate market is booming, and the average single-family home gains 30% in value. Within the context of the Aggregate Demand / Aggregate Supply Model, how is America's MACRO economy impacted by this event?
A. There will likely be an INCREASE (shift to the right) in America's Aggregate Demand (AD curve) B. There will likely be an INCREASE (shift to the right) in America's Aggregate Supply (AS curve) C. There will likely be a DECREASE (shift to the left) in America's Aggregate Demand (AD curve) D. There will likely be a DECREASE (shift to the left) in America's Aggregate Supply (AS curve)
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