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A ship has been stuck in the Suez Canal now for a number of days. Shipping giant Maersk says it will delay shipments for weeks
A ship has been stuck in the Suez Canal now for a number of days. Shipping giant Maersk says it will delay shipments for weeks to clear up the backlog. Ships are starting to take the four week journey around the horn of Africa adding additional expense. Roughly $9b worth of goods transits the canal every day. Describe whether this is a shock to AS or AD or even LRAS. What will happen to P, Y, and Unemployment from this transportation bottleneck. A
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