The Long-Run Multiplier. Using the aggregate demand and the long-run aggregate supply curve from the previous chapter, what is the government multiplier in the very long run? Use your answer to...

The Long-Run Multiplier. Using the aggregate demand and the long-run aggregate supply curve from the previous chapter, what is the government multiplier in the very long run? Use your answer to explain the intuition that multiplier during recessions are higher than multipliers near full employment. (Related to Application 2 on p. 260.)