Consider the open economy displayed in the figure to the right. Firms in this nation do import raw materials and other productive inputs from?abroad, and foreign residents purchase many of the?nation's goods and services.

a. Using the threepointcurvedlinedrawingtool?, determine the most likely?short-run effect on this?nation's economy if there is a significant rawmaterialsprice inflation in other nations around the world. Label this line?'Shock'.

Carefully follow the instructions?above, and only draw the required objects.??