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How could you use the aggregate demand-aggregate supply (AD/AS) framework to explain the impact of the financial crisis of 2007- 2009 on inflation and output
How could you use the aggregate demand-aggregate supply (AD/AS) framework to explain the impact of the financial crisis of 2007- 2009 on inflation and output in the economy? You can think of the impact of the financial crisis of 2007-2009 as an (Click to select) shock. Such a shock would shift the curve to the Click to select) . In the absence of other changes, this would put (Click to select) pressure on (Click to select) output and (Cick to select) pressure on inflation
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