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i want wo get the answer of question 5 a and b by steps CHAPTER 12: AGGREGATE DEMAND AND AGGREGATE SUPPLY QUESTION 2 Explain whether
i want wo get the answer of question 5 a and b by steps
CHAPTER 12: AGGREGATE DEMAND AND AGGREGATE SUPPLY QUESTION 2 Explain whether each of the following events will increase, decrease or have no effect on long-run aggregate supply. GROUP 2,5, & 8 a) Malaysia experiences a wave of immigration. b) Intel invents a new and more powerful computer chip. c) Tenaga Nasional Berhad (TNB) invests in new electricity transmission technology. d) A severe flood damages factories in Pahang. QUESTION 5 For each of the three theories for upward slope of the short-run aggregate-supply curve, carefully explain the following: GROUP 3,6 & 9 a) How the economy recovers from a recession and returns to its long-run equilibrium without any policy intervention? b) What determines the speed of that recovery? QUESTION 10 For each of the following events, explain the short-run and long-run effects on output and price level, assuming policymakers take no action. a) The stock market declines sharply, reducing consumers' wealth. GROUP 1,4 & 7 b) The federal government increases spending on national defense. c) A technological improvement raises productivity d) A recession overseas causes foreigners to buy fewer Malaysian goodsStep by Step Solution
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