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a) For each of the following, explain the impact of each event on the aggregate demand (AD), short run aggregate supply (SRAS) and long run

a) For each of the following, explain the impact of each event on the aggregate

demand (AD), short run aggregate supply (SRAS) and long run aggregate supply

(LRAS) of Malaysia:

(i) It is announced that Malaysia has just entered into a recession. (3 marks)

(ii) The price of petroleum decreases by another 60%. (3 marks)

(iii) Political and social unrest in Indonesia have caused many foreign firms to

relocate their business to Malaysia.

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