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Consider the financial crisis 2007-2009 in USA.Assume that the crisis has been continuing for 10 years. We call this period as a long run period.

Consider the financial crisis 2007-2009 in USA.Assume that the crisis has been continuing for 10 years. We call this period as a long run period. Answer the following questions:

1. Explain the effect of this crisis on USA's GDP in long-run?

2. Explain the effect of this crisis on USA's inflation rate in long-run?

3. Explain the effect of this crisis on USA's labour market in long-run?

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