In an opinion column in the Wall Street Journal in 2016, Harvard economist Martin Feldstein referred to
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In an opinion column in the Wall Street Journal in 2016, Harvard economist Martin Feldstein referred to “a possible negative shock—such as a sharp fall in exports or in construction—that could push the economy into a new recession.” Briefly explain whether he was referring to a shock to aggregate demand or to aggregate supply. Illustrate your answer with an AD–AS graph.
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Related Book For
Money Banking And The Financial System
ISBN: 1801
3rd Edition
Authors: R. Glenn Hubbard, Anthony Patrick O'Brien
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