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For each of the following scenarios, state the short run effect on the AS curve. AS curve shifts up (decrease) or Shifts down ( increase)
For each of the following scenarios, state the short run effect on the AS curve. AS curve shifts up (decrease) or Shifts down ( increase)
a.Gas become more expensive thus transportation costs go up.
b.Earthquake and bad weather destroyed the agriculture produce.
c.The government increases subsidies.
d. The Canadian dollar is stronger thus raw material imports become cheap.
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