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Describe the effects of each of the following events on the US economy ( i . e . What may happen to the price? To
Describe the effects of each of the following events on the US economy i
e What may happen to the price? To the real output? Explain briefly what cause these effects ie What happens to determinants of AD or AS or both? Why? Illustrate your answers in given AD AS diagrams. Label your diagrams and changes carefully.
a points US dollar appreciates significantly.
b points A hurricane destroyed major gas pipelines and resulted in a sharp increase in energy prices for months.
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