Clay A.

asked • 01/18/21

Determine the impact of the each of following types of shocks on output and inflation in the short-run and long-run. (Use AS-AD-LRAS curves to illustrate your reasoning).

Determine the impact of the each of following types of shocks on output and inflation in the short-run and long-run. (Use AS-AD-LRAS curves to illustrate your reasoning).


a. A decline in consumer confidence.

b. An increase in inflation expectations.

c. An increase in export demand.

1 Expert Answer

By:

Laura M. answered • 01/18/21

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