question archive 1) Suppose the economy starts in LR equilibrium
1) Suppose the economy starts in LR equilibrium
Subject:SociologyPrice: Bought3
1) Suppose the economy starts in LR equilibrium. Then there is an increase fear of recession in the economy. Use the AS-AD model to describe what will happen to the economy in the SR and the LR. Indicate what will happen to output, unemployment, and price level in the economy PRICE LEVEL ALRAS SRAS PL AD Y REAL GDP 2) Suppose the economy starts in LR equilibrium. Then there is an increase fear of inflation in the economy. Use the AS-AD model to describe what will happen to the economy in the SR and the LR. Indicate what will happen to output, unemployment, and price level in the economy. PRICE LEVEL LRAS 1456 3) ) ) ) 7) 2SRAS PL AD Y REAL GDP 3) Suppose the economy starts in LR equilibrium. Then there is a new oil reserve discovered in the country. Use the AS-AD model to describe what will happen to the economy in the SR and the LR. Indicate what will happen to output, unemployment, and price level in the economy. PRICE LEVEL LRAS SRAS PL AD Y REAL GDP
