Explain in words and refer to the AD-AS model.

In most recent US economic recession (2008- 2009),

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In most recent US economic recession (2008- 2009), if policymakers had taken no action, how would the economy have evolved over time? Explain in words and refer to the AD-AS model. Answer should be in 280 words.

In most recent US economic recession (2008- 2009),

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