Question
Due to a pandemic, the economy is in a recession with high unemployment and low output. Draw AD curve, SRAS curve, and LRAS in one
Due to a pandemic, the economy is in a recession with high unemployment and low output.
Draw AD curve, SRAS curve, and LRAS in one graph to show the current situation of recession. Hint: the intersection of AD and AS should have a lower output value than the intersection of AD and LRAS, which shows the potential output.
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University Physics with Modern Physics
Authors: Hugh D. Young, Roger A. Freedman
14th edition
133969290, 321973615, 9780321973610, 978-0133977981
